Key Points
- Insider sale: Miguel Patricio sold 125,000 KHC shares at an average $24.82 for $3.1025M, trimming his holding by 15.4% to 686,817 shares (about $17.05M).
- Analysts have lowered targets and ratings on KHC; MarketBeat reports a consensus rating of Reduce with a consensus target price of $26.63.
- Kraft Heinz declared a quarterly dividend of $0.40 (annualized $1.60) for a 6.5% yield, but the company shows a negative net margin (-17.35%) and a payout ratio of -42.9%, highlighting earnings strain.
Kraft Heinz Company (NASDAQ:KHC - Get Free Report) insider Miguel Patricio sold 125,000 shares of the stock in a transaction dated 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 directly owned 686,817 shares of the company's stock, valued at $17,046,797.94. This trade represents a 15.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Kraft Heinz Trading Down 1.0%
Shares of KHC stock opened at $24.51 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $29.01 billion, a price-to-earnings ratio of -6.57 and a beta of 0.09. Kraft Heinz Company has a 12-month low of $23.70 and a 12-month high of $33.35. The stock's 50-day moving average price is $24.89 and its 200-day moving average price is $26.14.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. The business 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%. Equities research analysts predict that Kraft Heinz Company will post 2.68 EPS 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. Investors of record on Friday, November 28th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.5%. The ex-dividend date is Friday, November 28th. Kraft Heinz's payout ratio is currently -42.90%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on KHC shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Kraft Heinz from $27.00 to $26.00 in a report on Thursday, October 30th. TD Cowen dropped their target price on Kraft Heinz from $28.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, October 30th. UBS Group decreased their price target on Kraft Heinz from $27.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, October 30th. Zacks Research lowered shares of Kraft Heinz from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 13th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Kraft Heinz from $27.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $26.63.
Read Our Latest Report on KHC
Institutional Trading of Kraft Heinz
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Kraft Heinz by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 102,435,702 shares of the company's stock worth $2,644,890,000 after buying an additional 454,868 shares during the period. State Street Corp grew its stake in Kraft Heinz by 1.0% in the 2nd quarter. State Street Corp now owns 46,376,394 shares of the company's stock worth $1,197,438,000 after acquiring an additional 462,963 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Kraft Heinz by 14.7% during the second quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company's stock worth $681,663,000 after acquiring an additional 3,392,470 shares during the period. Invesco Ltd. raised its stake in shares of Kraft Heinz by 1.5% during the third quarter. Invesco Ltd. now owns 17,855,352 shares of the company's stock valued at $464,953,000 after acquiring an additional 270,678 shares in the last quarter. Finally, Nordea Investment Management AB grew 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 worth $351,263,000 after purchasing an additional 5,873,967 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.
About Kraft Heinz
(
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.
Further Reading
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