Arkfeld Wealth Strategies L.L.C. Buys 35,426 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Arkfeld Wealth Strategies L.L.C. boosted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 78.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,648 shares of the company’s stock after acquiring an additional 35,426 shares during the quarter. Kraft Heinz comprises about 1.7% of Arkfeld Wealth Strategies L.L.C.’s investment portfolio, making the stock its 14th biggest position. Arkfeld Wealth Strategies L.L.C.’s holdings in Kraft Heinz were worth $2,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in KHC. AQR Capital Management LLC grew its stake in shares of Kraft Heinz by 86.0% during the third quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock valued at $155,671,000 after buying an additional 2,140,153 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Kraft Heinz by 7.2% in the third quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock valued at $423,216,000 after purchasing an additional 850,326 shares during the period. FMR LLC boosted its holdings in shares of Kraft Heinz by 37.9% in the third quarter. FMR LLC now owns 3,029,052 shares of the company’s stock valued at $101,897,000 after purchasing an additional 832,653 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Kraft Heinz by 1,410.0% in the third quarter. Lazard Asset Management LLC now owns 758,310 shares of the company’s stock valued at $25,508,000 after purchasing an additional 708,092 shares during the period. Finally, Bank of Nova Scotia boosted its holdings in shares of Kraft Heinz by 165.6% in the fourth quarter. Bank of Nova Scotia now owns 1,039,812 shares of the company’s stock valued at $38,450,000 after purchasing an additional 648,365 shares during the period. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC traded down $0.48 during mid-day trading on Wednesday, hitting $32.32. The stock had a trading volume of 7,675,740 shares, compared to its average volume of 8,040,628. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09. The company has a 50 day moving average of $35.49 and a two-hundred day moving average of $36.12. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. The firm has a market cap of $39.25 billion, a PE ratio of 14.11, a PEG ratio of 2.65 and a beta of 0.57.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the prior year, the firm earned $0.68 EPS. The firm’s revenue was down 1.2% on a year-over-year basis. Research analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s payout ratio is 69.87%.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Piper Sandler lowered their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Finally, Bank of America upped their target price on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz currently has an average rating of “Moderate Buy” and an average target price of $40.00.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the sale, the insider now directly owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by insiders.

Kraft Heinz 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.