Voya Investment Management LLC Sells 73,281 Shares of Kraft Heinz Company $KHC

Voya Investment Management LLC lowered its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 28.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 187,663 shares of the company’s stock after selling 73,281 shares during the quarter. Voya Investment Management LLC’s holdings in Kraft Heinz were worth $4,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KHC. Rakuten Securities Inc. grew its holdings 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 purchasing an additional 788 shares in the last quarter. Cape Investment Advisory Inc. lifted its position in Kraft Heinz by 164.7% during the second quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock worth $33,000 after purchasing an additional 807 shares during the period. Mid American Wealth Advisory Group Inc. acquired a new stake in Kraft Heinz during the second quarter worth about $39,000. Banque Transatlantique SA bought a new position in Kraft Heinz in the 1st quarter valued at about $40,000. Finally, Hilltop National Bank acquired a new position in shares of Kraft Heinz in the 2nd quarter valued at approximately $41,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Up 1.1%

Shares of KHC opened at $23.97 on Friday. 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 Company has a 52 week low of $23.60 and a 52 week high of $33.35. The stock has a market capitalization of $28.37 billion, a price-to-earnings ratio of -6.43 and a beta of 0.09. The stock has a fifty day moving average of $24.78 and a 200-day moving average of $26.07.

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

Kraft Heinz Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Friday, November 28th. Kraft Heinz’s dividend payout ratio (DPR) is -42.90%.

Insider Buying and Selling

In other Kraft Heinz news, insider Miguel Patricio sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the sale, the insider directly owned 686,817 shares of the company’s stock, valued at $17,046,797.94. The trade was a 15.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Kraft Heinz from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, December 15th. Mizuho reduced their target price on Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, October 28th. Barclays lowered their price target on Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Morgan Stanley reduced their price objective on Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Finally, BNP Paribas Exane decreased their target price on Kraft Heinz from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $26.63.

Kraft Heinz 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.