Entropy Technologies LP Sells 68,101 Shares of The Kraft Heinz Company (NASDAQ:KHC)

15 Nov 2024, 10:10 by Mitch Edgeman · The Markets Daily

Entropy Technologies LP trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 78.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,212 shares of the company’s stock after selling 68,101 shares during the period. Entropy Technologies LP’s holdings in Kraft Heinz were worth $639,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. MADDEN SECURITIES Corp lifted its holdings in Kraft Heinz by 2.4% during the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock worth $448,000 after purchasing an additional 303 shares during the last quarter. HB Wealth Management LLC lifted its holdings in Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after purchasing an additional 314 shares during the last quarter. Axiom Advisory LLC increased its stake in Kraft Heinz by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after acquiring an additional 327 shares during the period. Norden Group LLC increased its stake in Kraft Heinz by 3.8% during the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after acquiring an additional 339 shares during the period. Finally, Valley Wealth Managers Inc. increased its stake in Kraft Heinz by 46.4% during the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after acquiring an additional 340 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler lowered their price objective on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Barclays lowered their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, Citigroup decreased their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and a consensus target price of $37.00.

View Our Latest Research Report on Kraft Heinz

Insiders Place Their Bets

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Down 1.1 %

Shares of KHC stock opened at $31.79 on Friday. The firm has a market capitalization of $38.44 billion, a P/E ratio of 28.64, a P/E/G ratio of 3.65 and a beta of 0.49. The Kraft Heinz Company has a twelve month low of $31.58 and a twelve month high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock’s fifty day simple moving average is $34.71 and its 200 day simple moving average is $34.53.

Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Kraft Heinz’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, sell-side analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.03%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s payout ratio is presently 144.14%.

Kraft Heinz Profile

(Free Report)

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.