Bill Few Associates Inc. Trims Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Bill Few Associates Inc. cut its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,441 shares of the company’s stock after selling 1,555 shares during the quarter. Bill Few Associates Inc.’s holdings in Kraft Heinz were worth $2,685,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC lifted its position in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Kraft Heinz in the third quarter valued at about $27,000. Sawyer & Company Inc acquired a new position in Kraft Heinz during the 4th quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. boosted its holdings in Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after acquiring an additional 797 shares during the period. Finally, Bangor Savings Bank purchased a new stake in shares of Kraft Heinz during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. The Goldman Sachs Group lowered their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Piper Sandler restated a “neutral” rating and issued a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Wells Fargo & Company reduced their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, UBS Group cut their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $35.23.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $29.07 on Thursday. The stock’s 50 day moving average price is $30.62 and its 200 day moving average price is $33.16. The Kraft Heinz Company has a 12 month low of $28.37 and a 12 month high of $38.96. The stock has a market cap of $35.15 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 3.50 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 earnings per share. Equities research analysts anticipate that The Kraft Heinz Company will post 3 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date was Friday, November 29th. Kraft Heinz’s payout ratio is presently 144.14%.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now owns 168,195 shares of the company’s stock, valued at $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Kraft Heinz Company 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.