HB Wealth Management LLC Raises Holdings in The Kraft Heinz Company (NASDAQ:KHC)

HB Wealth Management LLC lifted its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 9.2% during the first quarter, Holdings Channel reports. The institutional investor owned 12,699 shares of the company’s stock after purchasing an additional 1,069 shares during the quarter. HB Wealth Management LLC’s holdings in Kraft Heinz were worth $469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KHC. TCW Group Inc. acquired a new position in shares of Kraft Heinz during the 4th quarter worth $1,098,000. Shell Asset Management Co. grew its position in Kraft Heinz by 251.3% during the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after buying an additional 24,199 shares during the period. Tower Research Capital LLC TRC increased its holdings in Kraft Heinz by 120.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock valued at $5,079,000 after buying an additional 75,149 shares in the last quarter. Bridgewater Associates LP lifted its position in shares of Kraft Heinz by 7.7% during the 4th quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after acquiring an additional 118,260 shares during the period. Finally, Raymond James Trust N.A. boosted its stake in shares of Kraft Heinz by 11.0% during the 4th quarter. Raymond James Trust N.A. now owns 39,610 shares of the company’s stock worth $1,465,000 after acquiring an additional 3,916 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Trading Down 0.6 %

NASDAQ:KHC traded down $0.18 during mid-day trading on Friday, reaching $31.91. The company’s stock had a trading volume of 2,474,060 shares, compared to its average volume of 7,938,316. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. The stock has a market cap of $38.75 billion, a P/E ratio of 14.01, a P/E/G ratio of 2.59 and a beta of 0.53. The company’s fifty day simple moving average is $34.68 and its two-hundred day simple moving average is $35.89. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96.

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 analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. Kraft Heinz’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. On average, equities analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 6th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, June 6th. This represents a $1.60 annualized dividend and a yield of 5.01%. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insider Transactions at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the transaction, the insider now 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 SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America lifted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Piper Sandler decreased their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company reduced their price target on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, June 27th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.75.

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.