Cornerstone Advisors LLC Has $1.03 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Cornerstone Advisors LLC trimmed its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,000 shares of the company’s stock after selling 1,500 shares during the period. Cornerstone Advisors LLC’s holdings in Kraft Heinz were worth $1,031,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KHC. Capital World Investors lifted its position in shares of Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after purchasing an additional 3,961,872 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Kraft Heinz by 47.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after buying an additional 1,778,263 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Kraft Heinz by 346.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock worth $57,799,000 after buying an additional 1,179,863 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Kraft Heinz by 56.7% during the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after buying an additional 1,027,636 shares during the last quarter. Finally, Poplar Forest Capital LLC bought a new stake in shares of Kraft Heinz during the second quarter worth approximately $26,353,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the transaction, the insider now owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KHC shares. Citigroup dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. JPMorgan Chase & Co. dropped their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Bank of America lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Barclays upped their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Evercore ISI lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and an average price target of $37.50.

Kraft Heinz Stock Up 0.1 %

Shares of KHC stock opened at $35.63 on Tuesday. The firm has a fifty day moving average of $34.56 and a 200-day moving average of $35.05. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96. The company has a market capitalization of $43.08 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 3.43 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The firm’s revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

Kraft Heinz Profile

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.