Usca Ria LLC Sells 38,276 Shares of Kraft Heinz Co (KHC)
Usca Ria LLC cut its stake in Kraft Heinz Co (NASDAQ:KHC) by 75.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,300 shares of the company’s stock after selling 38,276 shares during the quarter. Usca Ria LLC’s holdings in Kraft Heinz were worth $773,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Schnieders Capital Management LLC grew its holdings in shares of Kraft Heinz by 3.2% during the 1st quarter. Schnieders Capital Management LLC now owns 27,688 shares of the company’s stock worth $1,725,000 after purchasing an additional 866 shares during the period. Cibc Bank USA boosted its holdings in Kraft Heinz by 5.5% during the 2nd quarter. Cibc Bank USA now owns 16,638 shares of the company’s stock valued at $1,045,000 after acquiring an additional 872 shares during the period. World Asset Management Inc boosted its holdings in Kraft Heinz by 2.5% during the 2nd quarter. World Asset Management Inc now owns 36,493 shares of the company’s stock valued at $2,292,000 after acquiring an additional 903 shares during the period. Integrated Investment Consultants LLC boosted its holdings in Kraft Heinz by 133.5% during the 2nd quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock valued at $106,000 after acquiring an additional 965 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Kraft Heinz by 23.1% during the 2nd quarter. Parallel Advisors LLC now owns 5,162 shares of the company’s stock valued at $324,000 after acquiring an additional 967 shares during the period. 62.48% of the stock is owned by institutional investors and hedge funds.
Shares of KHC opened at $61.02 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.05 and a quick ratio of 0.70. The stock has a market capitalization of $72.73 billion, a PE ratio of 17.19, a P/E/G ratio of 2.03 and a beta of 0.59. Kraft Heinz Co has a 1 year low of $54.11 and a 1 year high of $85.28.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 17th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Thursday, August 16th. Kraft Heinz’s payout ratio is presently 70.42%.
In other news, EVP Eduardo Pelleissone sold 35,000 shares of Kraft Heinz stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $63.85, for a total value of $2,234,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of Kraft Heinz stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total value of $1,234,724,292.90. The disclosure for this sale can be found here. Company insiders own 26.81% of the company’s stock.
A number of equities analysts recently commented on KHC shares. Bank of America restated a “buy” rating and set a $85.00 target price on shares of Kraft Heinz in a report on Thursday, May 3rd. Morgan Stanley lowered their target price on Kraft Heinz from $73.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, May 3rd. Deutsche Bank lowered their target price on Kraft Heinz from $67.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, May 3rd. Royal Bank of Canada restated a “buy” rating and set a $77.00 target price on shares of Kraft Heinz in a report on Tuesday, April 24th. Finally, BidaskClub upgraded Kraft Heinz from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $75.25.
Kraft Heinz Profile
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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