Arkfeld Wealth Strategies L.L.C. Sells 2,072 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Arkfeld Wealth Strategies L.L.C. lowered its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 2.5% in the 3rd quarter, Holdings Channel reports. The firm owned 80,357 shares of the company’s stock after selling 2,072 shares during the period. Kraft Heinz accounts for 1.3% of Arkfeld Wealth Strategies L.L.C.’s portfolio, making the stock its 18th biggest holding. Arkfeld Wealth Strategies L.L.C.’s holdings in Kraft Heinz were worth $2,780,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wesbanco Bank Inc. lifted its position in Kraft Heinz by 17.3% during the third quarter. Wesbanco Bank Inc. now owns 11,281 shares of the company’s stock valued at $396,000 after purchasing an additional 1,665 shares during the period. CX Institutional purchased a new stake in Kraft Heinz during the 3rd quarter valued at $340,000. Sapient Capital LLC purchased a new stake in Kraft Heinz during the 3rd quarter valued at $213,000. Thomasville National Bank lifted its holdings in shares of Kraft Heinz by 1.2% during the 3rd quarter. Thomasville National Bank now owns 40,868 shares of the company’s stock valued at $1,435,000 after buying an additional 481 shares during the period. Finally, Sound Income Strategies LLC boosted its stake in shares of Kraft Heinz by 4.8% in the 3rd quarter. Sound Income Strategies LLC now owns 123,091 shares of the company’s stock worth $4,322,000 after buying an additional 5,601 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KHC. Bank of America lowered their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Barclays upped their price target 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. JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a report on Monday, August 12th. They set a “sell” rating and a $34.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.55.

Kraft Heinz Price Performance

Shares of NASDAQ KHC traded up $0.53 during mid-day trading on Tuesday, hitting $35.89. 1,958,894 shares of the company’s stock traded hands, compared to its average volume of 7,768,699. The company has a market capitalization of $43.58 billion, a P/E ratio of 15.44, a PEG ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a 1 year low of $31.08 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The company’s 50-day moving average is $35.13 and its two-hundred day moving average is $34.98.

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

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.46%. The ex-dividend date was Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

Insider Buying and Selling at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

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.