SouthState Corp Cuts Position in The Kraft Heinz Company (NASDAQ:KHC)

SouthState Corp trimmed its position in shares of The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 6.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,182 shares of the company’s stock after selling 290 shares during the period. SouthState Corp’s holdings in Kraft Heinz were worth $165,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sandy Cove Advisors LLC purchased a new position in Kraft Heinz in the first quarter valued at approximately $25,000. AlphaMark Advisors LLC increased its stake in Kraft Heinz by 521.7% in the fourth quarter. AlphaMark Advisors LLC now owns 715 shares of the company’s stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. Larson Financial Group LLC increased its stake in Kraft Heinz by 383.7% in the fourth quarter. Larson Financial Group LLC now owns 803 shares of the company’s stock valued at $29,000 after purchasing an additional 637 shares during the last quarter. Focused Wealth Management Inc increased its stake in Kraft Heinz by 100.5% in the first quarter. Focused Wealth Management Inc now owns 772 shares of the company’s stock valued at $30,000 after purchasing an additional 387 shares during the last quarter. Finally, Rather & Kittrell Inc. purchased a new position in Kraft Heinz in the fourth quarter valued at approximately $33,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on KHC. Mizuho began coverage on Kraft Heinz in a report on Monday, July 18th. They issued a “buy” rating and a $48.00 price objective for the company. The Goldman Sachs Group reissued an “upgrade” rating on shares of Kraft Heinz in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on Kraft Heinz from $48.00 to $47.00 in a report on Monday, July 18th. UBS Group downgraded Kraft Heinz from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $40.00 to $34.00 in a report on Thursday, May 26th. Finally, Stifel Nicolaus raised Kraft Heinz from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, July 28th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.30.

Insider Activity

In other news, CEO Miguel Patricio sold 259,958 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $44.28, for a total value of $11,510,940.24. Following the completion of the transaction, the chief executive officer now owns 1,897,433 shares in the company, valued at $84,018,333.24. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Marcos Eloi Lima sold 28,855 shares of Kraft Heinz stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $36.97, for a total transaction of $1,066,769.35. Following the completion of the sale, the executive vice president now owns 193,938 shares in the company, valued at approximately $7,169,887.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Miguel Patricio sold 259,958 shares of Kraft Heinz stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $44.28, for a total value of $11,510,940.24. Following the sale, the chief executive officer now owns 1,897,433 shares of the company’s stock, valued at approximately $84,018,333.24. The disclosure for this sale can be found here. Insiders sold a total of 308,594 shares of company stock worth $13,299,438 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Kraft Heinz Trading Down 0.8 %

NASDAQ:KHC opened at $37.03 on Friday. The stock has a fifty day moving average price of $37.57 and a two-hundred day moving average price of $38.72. The stock has a market capitalization of $45.38 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 2.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.52 and a current ratio of 0.89. The Kraft Heinz Company has a 1 year low of $32.78 and a 1 year high of $44.87.

Kraft Heinz (NASDAQ:KHC – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.36 billion. Kraft Heinz had a return on equity of 6.82% and a net margin of 5.92%. Kraft Heinz’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, August 26th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Thursday, August 25th. Kraft Heinz’s dividend payout ratio is currently 131.15%.

About Kraft Heinz

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The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.