Amalgamated Bank Sells 4,792 Shares of Kraft Heinz Company $KHC

Amalgamated Bank reduced its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 2.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 166,783 shares of the company’s stock after selling 4,792 shares during the period. Amalgamated Bank’s holdings in Kraft Heinz were worth $4,306,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Atria Investments Inc lifted its holdings in shares of Kraft Heinz by 4.0% during the 2nd quarter. Atria Investments Inc now owns 39,213 shares of the company’s stock worth $1,012,000 after acquiring an additional 1,514 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of Kraft Heinz by 13.8% during the 2nd quarter. Keybank National Association OH now owns 132,738 shares of the company’s stock worth $3,427,000 after acquiring an additional 16,102 shares during the last quarter. Premier Path Wealth Partners LLC lifted its holdings in shares of Kraft Heinz by 9.1% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 46,883 shares of the company’s stock worth $1,211,000 after acquiring an additional 3,893 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Kraft Heinz by 422.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 3,434 shares of the company’s stock worth $89,000 after acquiring an additional 2,777 shares during the last quarter. Finally, Auto Owners Insurance Co lifted its holdings in shares of Kraft Heinz by 226.5% during the 2nd quarter. Auto Owners Insurance Co now owns 525,731 shares of the company’s stock worth $13,574,000 after acquiring an additional 364,698 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on KHC. Morgan Stanley lowered their price target 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. DZ Bank raised shares of Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. HSBC lowered their price target on shares of Kraft Heinz from $29.00 to $27.00 in a research note on Thursday. Jefferies Financial Group lowered their price target on shares of Kraft Heinz from $28.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, October 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Kraft Heinz in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $26.58.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC opened at $24.74 on Monday. The company has a market cap of $29.28 billion, a price-to-earnings ratio of -6.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.16. The company has a 50-day moving average price of $26.06 and a 200-day moving average price of $26.95. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Kraft Heinz Company has a 12 month low of $24.10 and a 12 month high of $34.08.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Friday, July 8th. The company reported $0.72 EPS for the quarter. The firm had revenue of $6.39 billion during the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. As a group, equities analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Cuts Dividend

The company also recently disclosed 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. This represents a $1.60 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Friday, November 28th. Kraft Heinz’s dividend payout ratio is -42.90%.

About Kraft Heinz

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.