Brown Brothers Harriman & Co. Sells 1,028 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Brown Brothers Harriman & Co. lowered its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 23.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,413 shares of the company’s stock after selling 1,028 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Kraft Heinz were worth $110,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Plato Investment Management Ltd increased its stake in Kraft Heinz by 933.1% during the second quarter. Plato Investment Management Ltd now owns 18,854 shares of the company’s stock valued at $607,000 after acquiring an additional 17,029 shares during the period. Thompson Siegel & Walmsley LLC boosted its stake in Kraft Heinz by 2.3% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 298,321 shares of the company’s stock valued at $9,612,000 after buying an additional 6,783 shares in the last quarter. Mystic Asset Management Inc. grew its position in Kraft Heinz by 10.4% in the second quarter. Mystic Asset Management Inc. now owns 6,455 shares of the company’s stock valued at $208,000 after acquiring an additional 610 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Kraft Heinz during the second quarter worth $6,000,000. Finally, Thoroughbred Financial Services LLC boosted its stake in shares of Kraft Heinz by 18.6% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 6,446 shares of the company’s stock valued at $207,000 after purchasing an additional 1,010 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KHC shares. Bank of America reduced 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 report on Wednesday, July 10th. Piper Sandler decreased their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Citigroup reduced their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. JPMorgan Chase & Co. cut their price target on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Barclays boosted their price objective on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus price target of $37.50.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $35.14 on Thursday. The stock has a 50-day moving average of $34.69 and a 200-day moving average of $35.05. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The stock has a market cap of $42.67 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 3.43 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.

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

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 4.55%. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insider Buying and Selling at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz Company 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.