Meyer Handelman Co. Sells 38,276 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Meyer Handelman Co. lowered its stake in The Kraft Heinz Company (NASDAQ:KHC) by 37.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,003 shares of the company’s stock after selling 38,276 shares during the quarter. Meyer Handelman Co.’s holdings in Kraft Heinz were worth $2,212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KHC. New Covenant Trust Company N.A. acquired a new stake in Kraft Heinz in the 1st quarter valued at approximately $27,000. Asset Dedication LLC raised its holdings in shares of Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares during the last quarter. Bangor Savings Bank bought a new stake in shares of Kraft Heinz in the third quarter worth $32,000. Hantz Financial Services Inc. acquired a new position in Kraft Heinz during the second quarter worth $34,000. Finally, Valley Wealth Managers Inc. grew its position in Kraft Heinz by 46.4% in the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after purchasing an additional 340 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KHC shares. Citigroup decreased their price objective on Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Piper Sandler lowered their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Finally, Barclays lifted their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.55.

Kraft Heinz Trading Up 1.1 %

Shares of NASDAQ:KHC opened at $35.22 on Friday. The stock has a market cap of $42.77 billion, a PE ratio of 15.38, a P/E/G ratio of 3.39 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96. The business has a 50 day moving average of $35.13 and a 200-day moving average of $35.01.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. As a group, equities research analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.54%. Kraft Heinz’s payout ratio is presently 69.87%.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now owns 143,970 shares of the company’s stock, valued at $5,182,920. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

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.