Corient Private Wealth LLC Has $5.10 Million Stock Holdings in Kraft Heinz Company $KHC

Corient Private Wealth LLC decreased its position in shares of Kraft Heinz Company (NASDAQ:KHC) by 15.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 197,529 shares of the company’s stock after selling 35,590 shares during the quarter. Corient Private Wealth LLC’s holdings in Kraft Heinz were worth $5,100,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KHC. Rakuten Securities Inc. grew its position in shares of Kraft Heinz by 172.4% during the 2nd quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock worth $32,000 after buying an additional 788 shares during the period. Cape Investment Advisory Inc. boosted its stake in Kraft Heinz by 164.7% during the 2nd quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock valued at $33,000 after purchasing an additional 807 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new stake in Kraft Heinz during the second quarter worth $39,000. Banque Transatlantique SA purchased a new stake in shares of Kraft Heinz in the first quarter valued at about $40,000. Finally, Hilltop National Bank bought a new position in shares of Kraft Heinz during the 2nd quarter worth approximately $41,000. Institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KHC shares. Mizuho dropped their price objective on Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 28th. Wells Fargo & Company reduced their price target on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. UBS Group dropped their target price on shares of Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. JPMorgan Chase & Co. decreased their price objective on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Finally, TD Cowen lowered their target price on Kraft Heinz from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Kraft Heinz has an average rating of “Reduce” and a consensus price target of $26.63.

Insider Activity at Kraft Heinz

In other news, insider Miguel Patricio sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the completion of the transaction, the insider owned 686,817 shares in the company, valued at $17,046,797.94. This trade represents a 15.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $24.51 on Friday. The firm has a market cap of $29.01 billion, a price-to-earnings ratio of -6.57 and a beta of 0.09. The business has a 50-day simple moving average of $24.89 and a two-hundred day simple moving average of $26.14. Kraft Heinz Company has a fifty-two week low of $23.70 and a fifty-two week high of $33.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.13.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. The firm had revenue of $6.39 billion for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%. On average, 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 announced a quarterly dividend, which will be paid on Friday, December 26th. Investors 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 yield of 6.5%. The ex-dividend date of this dividend is Friday, November 28th. Kraft Heinz’s dividend payout ratio (DPR) is -42.90%.

Kraft Heinz Company Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.