Parthenon LLC Sells 2,892 Shares of Kraft Heinz Co (NASDAQ:KHC)

Parthenon LLC trimmed its position in Kraft Heinz Co (NASDAQ:KHC) by 3.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 81,388 shares of the company’s stock after selling 2,892 shares during the quarter. Parthenon LLC’s holdings in Kraft Heinz were worth $2,526,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Meridian Wealth Management LLC bought a new stake in Kraft Heinz during the 1st quarter worth approximately $27,000. Putnam FL Investment Management Co. bought a new stake in Kraft Heinz during the 2nd quarter worth approximately $27,000. Zions Bancorporation N.A. increased its holdings in Kraft Heinz by 303.4% during the 2nd quarter. Zions Bancorporation N.A. now owns 960 shares of the company’s stock worth $30,000 after purchasing an additional 722 shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in Kraft Heinz during the 2nd quarter worth approximately $31,000. Finally, Global Trust Asset Management LLC increased its holdings in Kraft Heinz by 479.9% during the 2nd quarter. Global Trust Asset Management LLC now owns 5,898 shares of the company’s stock worth $32,000 after purchasing an additional 4,881 shares in the last quarter. 58.00% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz stock traded down $1.52 during trading on Friday, hitting $26.70. The stock had a trading volume of 13,624,863 shares, compared to its average volume of 6,558,931. Kraft Heinz Co has a 1 year low of $26.05 and a 1 year high of $61.68. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.21. The company’s 50 day moving average price is $31.16. The firm has a market cap of $37.31 billion, a PE ratio of 7.56, a price-to-earnings-growth ratio of 2.99 and a beta of 0.74.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. Kraft Heinz had a positive return on equity of 6.89% and a negative net margin of 38.95%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.07 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. Kraft Heinz’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, sell-side analysts predict that Kraft Heinz Co will post 2.79 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.60 annualized dividend and a yield of 5.99%. Kraft Heinz’s payout ratio is 45.33%.

A number of analysts have commented on the company. UBS Group decreased their price objective on Kraft Heinz from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. BidaskClub upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Bank of America restated a “neutral” rating and issued a $32.00 target price (down previously from $39.00) on shares of Kraft Heinz in a research note on Friday. Guggenheim downgraded Kraft Heinz from a “neutral” rating to a “sell” rating and cut their target price for the stock from $29.00 to $25.00 in a research note on Friday. Finally, Evercore ISI started coverage on Kraft Heinz in a research note on Tuesday, June 11th. They issued an “in-line” rating and a $32.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $38.05.

Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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