Sowell Financial Services LLC Has $3.45 Million Stake in Kraft Heinz Company $KHC

Sowell Financial Services LLC lessened its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 13.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 132,595 shares of the company’s stock after selling 21,241 shares during the period. Sowell Financial Services LLC’s holdings in Kraft Heinz were worth $3,453,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of KHC. Shell Asset Management Co. grew its stake in Kraft Heinz by 89.7% in the second quarter. Shell Asset Management Co. now owns 90,450 shares of the company’s stock valued at $2,335,000 after acquiring an additional 42,758 shares during the period. Fairfax Financial Holdings Ltd. Can lifted its holdings in shares of Kraft Heinz by 45.4% in the 2nd quarter. Fairfax Financial Holdings Ltd. Can now owns 4,884,000 shares of the company’s stock worth $126,056,000 after purchasing an additional 1,525,000 shares in the last quarter. Lakeshore Capital Group Inc. grew its position in Kraft Heinz by 39.8% in the 2nd quarter. Lakeshore Capital Group Inc. now owns 37,050 shares of the company’s stock valued at $957,000 after purchasing an additional 10,551 shares during the period. Swedbank AB grew its position in Kraft Heinz by 13.6% in the 1st quarter. Swedbank AB now owns 878,684 shares of the company’s stock valued at $26,738,000 after purchasing an additional 104,872 shares during the period. Finally, Bard Financial Services Inc. increased its stake in Kraft Heinz by 24.5% during the 2nd quarter. Bard Financial Services Inc. now owns 104,225 shares of the company’s stock valued at $2,691,000 after purchasing an additional 20,500 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

KHC stock opened at $24.13 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The firm has a market cap of $28.56 billion, a PE ratio of -6.47 and a beta of 0.09. The business has a 50 day moving average of $24.76 and a 200-day moving average of $26.04. Kraft Heinz Company has a 12-month low of $23.60 and a 12-month high of $33.35.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The business had revenue of $6.39 billion for the quarter. As a group, sell-side analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Friday, November 28th. Kraft Heinz’s dividend payout ratio (DPR) is -42.90%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KHC shares. Sanford C. Bernstein dropped their price objective on shares of Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 28th. Wells Fargo & Company cut their price target on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. DZ Bank raised Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. BNP Paribas Exane dropped their target price on Kraft Heinz from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, December 16th. Finally, HSBC decreased their price target on Kraft Heinz from $29.00 to $27.00 in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $26.63.

Insider Buying and Selling

In other Kraft Heinz news, insider Miguel Patricio sold 125,000 shares of Kraft Heinz stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total value of $3,102,500.00. Following the sale, the insider owned 686,817 shares of the company’s stock, valued at approximately $17,046,797.94. The trade was a 15.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Kraft Heinz Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.