Bank of New York Mellon Corp Has $255.06 Million Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Bank of New York Mellon Corp lowered its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 8.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,254,507 shares of the company’s stock after selling 605,914 shares during the quarter. Bank of New York Mellon Corp’s holdings in The Kraft Heinz were worth $255,058,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KHC. Bbva USA acquired a new stake in shares of The Kraft Heinz during the 2nd quarter worth about $28,000. Pin Oak Investment Advisors Inc. bought a new stake in The Kraft Heinz during the 1st quarter worth about $30,000. Harvest Fund Management Co. Ltd bought a new stake in The Kraft Heinz during the 1st quarter worth about $32,000. BDO Wealth Advisors LLC grew its holdings in The Kraft Heinz by 64.1% during the 1st quarter. BDO Wealth Advisors LLC now owns 855 shares of the company’s stock worth $34,000 after acquiring an additional 334 shares during the last quarter. Finally, PNC Managed Account Solutions Inc. bought a new stake in The Kraft Heinz during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 61.25% of the company’s stock.

Shares of KHC stock opened at $36.39 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.15. The company has a market capitalization of $44.52 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 2.70 and a beta of 1.12. The company’s 50 day moving average price is $37.22 and its two-hundred day moving average price is $39.86. The Kraft Heinz Company has a 52 week low of $28.56 and a 52 week high of $44.95.

The Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, August 4th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The firm had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.55 billion. The Kraft Heinz had a net margin of 8.20% and a return on equity of 7.34%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. Analysts forecast that The Kraft Heinz Company will post 2.69 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 24th. Shareholders of record on Wednesday, September 1st were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, August 31st. This represents a $1.60 annualized dividend and a yield of 4.40%. The Kraft Heinz’s dividend payout ratio (DPR) is currently 55.56%.

In other news, insider Marcos Eloi Lima sold 41,929 shares of The Kraft Heinz stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $36.44, for a total value of $1,527,892.76. Following the sale, the insider now directly owns 191,620 shares in the company, valued at $6,982,632.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

A number of equities research analysts have commented on the stock. Zacks Investment Research lowered shares of The Kraft Heinz from a “hold” rating to a “sell” rating and set a $43.00 price objective on the stock. in a report on Wednesday, June 30th. Credit Suisse Group reduced their target price on shares of The Kraft Heinz from $38.00 to $33.00 and set an “underperform” rating on the stock in a research note on Thursday, August 5th. Piper Sandler reduced their target price on shares of The Kraft Heinz from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, August 20th. Finally, Morgan Stanley assumed coverage on shares of The Kraft Heinz in a research note on Tuesday. They issued a “hold” rating and a $37.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, The Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $38.90.

The Kraft Heinz Profile

The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015 and is headquartered in Pittsburgh, PA.

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Institutional Ownership by Quarter for The Kraft Heinz (NASDAQ:KHC)

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