Baird Financial Group Inc. Lowers Stock Position in Kraft Heinz Company $KHC

Baird Financial Group Inc. trimmed its holdings in shares of Kraft Heinz Company (NASDAQ:KHC) by 28.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 405,790 shares of the company’s stock after selling 158,779 shares during the quarter. Baird Financial Group Inc.’s holdings in Kraft Heinz were worth $10,478,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Banque Transatlantique SA purchased a new position in shares of Kraft Heinz in the 1st quarter valued at $40,000. Mid American Wealth Advisory Group Inc. bought a new stake in Kraft Heinz during the second quarter valued at about $39,000. Hilltop National Bank bought a new stake in Kraft Heinz during the second quarter valued at about $41,000. MV Capital Management Inc. grew its stake in Kraft Heinz by 300.7% in the second quarter. MV Capital Management Inc. now owns 1,735 shares of the company’s stock valued at $45,000 after purchasing an additional 1,302 shares during the last quarter. Finally, Pinney & Scofield Inc. raised its holdings in Kraft Heinz by 48.2% in the second quarter. Pinney & Scofield Inc. now owns 1,851 shares of the company’s stock worth $48,000 after purchasing an additional 602 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

KHC has been the topic of a number of recent analyst reports. Mizuho lowered their price target on shares of Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, October 28th. The Goldman Sachs Group lowered their target price on shares of Kraft Heinz from $30.00 to $27.00 in a research note on Thursday, October 30th. Morgan Stanley cut their price target on shares of Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Kraft Heinz in a report on Wednesday, October 8th. Finally, Evercore ISI reduced their target price on Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating on the stock in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $26.58.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $24.34 on Monday. Kraft Heinz Company has a 52 week low of $23.70 and a 52 week high of $33.35. The business’s 50 day moving average price is $25.11 and its 200 day moving average price is $26.28. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The firm has a market cap of $28.81 billion, a P/E ratio of -6.53 and a beta of 0.09.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Friday, July 8th. The company reported $0.72 EPS for the quarter. The business had revenue of $6.39 billion for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. On average, sell-side analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Friday, November 28th. Kraft Heinz’s dividend payout ratio is presently -42.90%.

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.