Sweeney & Michel LLC Sells 1,403 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Sweeney & Michel LLC decreased its position in The Kraft Heinz Company (NASDAQ:KHC) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,051 shares of the company’s stock after selling 1,403 shares during the quarter. Sweeney & Michel LLC’s holdings in Kraft Heinz were worth $362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Clifford Capital Partners LLC raised its holdings in shares of Kraft Heinz by 21.4% in the 2nd quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock worth $14,656,000 after buying an additional 80,101 shares in the last quarter. Lazard Asset Management LLC increased its stake in Kraft Heinz by 13.2% in the first quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after purchasing an additional 234,783 shares in the last quarter. Smith Thornton Advisors LLC acquired a new position in shares of Kraft Heinz in the 2nd quarter valued at $654,000. MBB Public Markets I LLC bought a new stake in shares of Kraft Heinz in the 2nd quarter valued at $2,001,000. Finally, Sei Investments Co. raised its position in shares of Kraft Heinz by 12.8% during the second quarter. Sei Investments Co. now owns 760,222 shares of the company’s stock worth $24,495,000 after purchasing an additional 86,311 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

KHC stock traded up $0.30 during midday trading on Tuesday, reaching $35.79. The company had a trading volume of 864,078 shares, compared to its average volume of 7,722,853. The stock has a 50 day moving average price of $35.23 and a 200-day moving average price of $34.93. The company has a market capitalization of $43.46 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The Kraft Heinz Company has a 1-year low of $31.08 and a 1-year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. Equities research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Analyst Ratings Changes

Several research firms recently commented on KHC. Citigroup cut their price objective on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Bank of America decreased 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 report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Kraft Heinz has a consensus rating of “Hold” and an average target price of $37.55.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the company’s 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 sale, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.

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.