Cromwell Holdings LLC Reduces Stake in The Kraft Heinz Company (NASDAQ:KHC)

Cromwell Holdings LLC cut its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 18.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,994 shares of the company’s stock after selling 442 shares during the quarter. Cromwell Holdings LLC’s holdings in Kraft Heinz were worth $70,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Stockton acquired a new stake in Kraft Heinz during the third quarter worth about $215,000. Strategic Investment Solutions Inc. IL boosted its position in Kraft Heinz by 42.5% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 1,726 shares of the company’s stock worth $61,000 after purchasing an additional 515 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Kraft Heinz during the 3rd quarter worth approximately $36,000. IFM Investors Pty Ltd increased its holdings in shares of Kraft Heinz by 1.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 187,071 shares of the company’s stock valued at $6,568,000 after purchasing an additional 3,363 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Kraft Heinz in the 3rd quarter valued at $209,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by insiders.

Kraft Heinz Stock Performance

KHC opened at $34.74 on Friday. The firm has a market capitalization of $42.00 billion, a PE ratio of 22.27, a PEG ratio of 3.48 and a beta of 0.49. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a twelve month low of $31.08 and a twelve month high of $38.96. The firm’s 50-day moving average price is $35.28 and its 200 day moving average price is $34.93.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the business earned $0.79 earnings per share. The business’s revenue was down 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.61%. Kraft Heinz’s payout ratio is 102.56%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KHC shares. Evercore ISI cut their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Citigroup dropped their price objective on Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $38.00 in a research note on Friday. Bank of America dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, The Goldman Sachs Group assumed coverage on shares of Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $37.58.

About Kraft Heinz

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.