Kraft Heinz (NASDAQ:KHC) Insider Sells $3,102,500.00 in Stock

by · The Cerbat Gem

Kraft Heinz Company (NASDAQ:KHCGet Free Report) insider Miguel Patricio sold 125,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the transaction, the insider owned 686,817 shares in the company, valued at approximately $17,046,797.94. This represents a 15.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Kraft Heinz Stock Down 1.0%

Kraft Heinz stock traded down $0.24 during mid-day trading on Friday, reaching $24.51. 21,067,803 shares of the company were exchanged, compared to its average volume of 13,528,189. Kraft Heinz Company has a 12-month low of $23.70 and a 12-month high of $33.35. The business has a fifty day moving average of $24.90 and a 200 day moving average of $26.16. The firm has a market cap of $29.01 billion, a P/E ratio of -6.57 and a beta of 0.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.13.

Kraft Heinz (NASDAQ:KHCGet Free Report) last issued its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. The company had revenue of $6.39 billion for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%. Research analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.5%. Kraft Heinz’s payout ratio is presently -42.90%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KHC. Norges Bank purchased a new stake in shares of Kraft Heinz during the 2nd quarter worth approximately $276,159,000. Nordea Investment Management AB lifted its stake in Kraft Heinz by 75.1% in the third quarter. Nordea Investment Management AB now owns 13,694,483 shares of the company’s stock valued at $351,263,000 after buying an additional 5,873,967 shares during the last quarter. Geode Capital Management LLC raised its position in Kraft Heinz by 14.7% in the 2nd quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock valued at $681,663,000 after purchasing an additional 3,392,470 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Kraft Heinz by 22.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,480,889 shares of the company’s stock worth $318,933,000 after purchasing an additional 1,895,722 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Kraft Heinz by 1,645.9% in the second quarter. Marshall Wace LLP now owns 1,880,281 shares of the company’s stock valued at $48,549,000 after buying an additional 1,772,581 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Morgan Stanley lowered their target price on shares of Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. The Goldman Sachs Group lowered their price objective on shares of Kraft Heinz from $30.00 to $27.00 in a research note on Thursday, October 30th. DZ Bank upgraded Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Evercore ISI lowered their price target on Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating for the company in a research report on Thursday, October 30th. Finally, BNP Paribas Exane reduced their price objective on Kraft Heinz from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $26.63.

Read Our Latest Report on Kraft Heinz

Kraft Heinz Company Profile

(Get Free Report)

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.

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