Newport Trust Company LLC Has $95.79 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Newport Trust Company LLC lowered its stake in The Kraft Heinz Company (NASDAQ:KHC) by 4.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,972,986 shares of the company’s stock after selling 128,113 shares during the quarter. Newport Trust Company LLC’s holdings in Kraft Heinz were worth $95,790,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in KHC. Welch Group LLC grew its position in shares of Kraft Heinz by 1.9% in the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock valued at $549,000 after purchasing an additional 272 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Kraft Heinz by 13.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock valued at $89,000 after buying an additional 282 shares during the last quarter. Integrated Advisors Network LLC increased its position in Kraft Heinz by 2.4% in the 4th quarter. Integrated Advisors Network LLC now owns 12,881 shares of the company’s stock worth $476,000 after buying an additional 301 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Kraft Heinz by 2.5% during the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after buying an additional 314 shares during the last quarter. Finally, Lorne Steinberg Wealth Management Inc. boosted its position in shares of Kraft Heinz by 0.3% in the first quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock valued at $4,044,000 after acquiring an additional 335 shares during the period. Institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling

In related news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the transaction, the insider now owns 143,970 shares in the company, valued at $5,182,920. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

KHC has been the topic of a number of research reports. Bank of America dropped 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 10th. Barclays boosted their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Evercore ISI reduced 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. Citigroup reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company boosted their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and a consensus price target of $37.50.

Kraft Heinz Stock Down 0.4 %

Shares of KHC opened at $34.99 on Friday. The business’s 50 day simple moving average is $34.74 and its 200-day simple moving average is $35.05. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The company has a market capitalization of $42.49 billion, a P/E ratio of 15.28, a PEG 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 announced its earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, sell-side analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

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.