Econ Financial Services Corp Sells 29,876 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Econ Financial Services Corp lowered its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 49.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,379 shares of the company’s stock after selling 29,876 shares during the quarter. Econ Financial Services Corp’s holdings in Kraft Heinz were worth $1,121,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Steward Partners Investment Solutions LLC acquired a new stake in shares of Kraft Heinz during the 4th quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Kraft Heinz during the fourth quarter worth $32,000. Transcendent Capital Group LLC bought a new position in shares of Kraft Heinz during the fourth quarter valued at $38,000. Janiczek Wealth Management LLC boosted its stake in shares of Kraft Heinz by 409.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 1,187 shares of the company’s stock valued at $44,000 after purchasing an additional 954 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its stake in shares of Kraft Heinz by 128.9% in the 1st quarter. AlphaMark Advisors LLC now owns 1,181 shares of the company’s stock valued at $44,000 after purchasing an additional 665 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the sale, the insider now owns 158,266 shares in the company, valued at approximately $5,689,662.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their price target on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 27th. Piper Sandler decreased their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Bank of America reduced their price target 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 lowered their price objective on shares of Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. Finally, Citigroup reduced 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 17th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.83.

Kraft Heinz Stock Up 0.2 %

Shares of NASDAQ KHC traded up $0.06 during mid-day trading on Monday, reaching $33.42. 7,410,852 shares of the company’s stock were exchanged, compared to its average volume of 7,882,426. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $33.41 and a 200 day simple moving average of $35.35. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. The firm has a market capitalization of $40.58 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 3.35 and a beta of 0.53.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. As a group, equities analysts expect that The Kraft Heinz Company will post 2.99 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.79%. The ex-dividend date was Thursday, June 6th. Kraft Heinz’s payout ratio is 69.87%.

Kraft Heinz Profile

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.