Boothbay Fund Management LLC Makes New $291,000 Investment in The Kraft Heinz Company (NASDAQ:KHC)

Posted by Defense World Staff on Mar 4th, 2023

Boothbay Fund Management LLC purchased a new position in The Kraft Heinz Company (NASDAQ:KHC – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,715 shares of the company’s stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Horan Securities Inc. boosted its stake in shares of Kraft Heinz by 206.4% in the 3rd quarter. Horan Securities Inc. now owns 766 shares of the company’s stock valued at $26,000 after purchasing an additional 516 shares in the last quarter. Ossiam purchased a new stake in shares of Kraft Heinz in the 2nd quarter valued at $28,000. O Dell Group LLC boosted its stake in shares of Kraft Heinz by 204.0% in the 3rd quarter. O Dell Group LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 567 shares in the last quarter. TD Capital Management LLC purchased a new stake in shares of Kraft Heinz in the 3rd quarter valued at $29,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Kraft Heinz by 70.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,026 shares of the company’s stock valued at $35,000 after purchasing an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 68.80% of the company’s stock.

Insider Activity at Kraft Heinz

In related news, EVP Melissa Werneck sold 3,500 shares of Kraft Heinz stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $42.39, for a total transaction of $148,365.00. Following the completion of the transaction, the executive vice president now directly owns 266,583 shares of the company’s stock, valued at approximately $11,300,453.37. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Kraft Heinz news, EVP Melissa Werneck sold 3,500 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $42.39, for a total transaction of $148,365.00. Following the completion of the sale, the executive vice president now directly owns 266,583 shares in the company, valued at approximately $11,300,453.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Flavio Torres sold 250,571 shares of the firm’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $39.58, for a total transaction of $9,917,600.18. Following the sale, the executive vice president now owns 188,983 shares of the company’s stock, valued at $7,479,947.14. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KHC has been the subject of a number of research reports. Mizuho upped their price objective on shares of Kraft Heinz from $48.00 to $50.00 in a research note on Friday, January 6th. Morgan Stanley upped their price target on shares of Kraft Heinz from $41.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 17th. Exane BNP Paribas began coverage on shares of Kraft Heinz in a research report on Tuesday, November 15th. They set a “neutral” rating and a $39.00 price target for the company. Credit Suisse Group reissued an “underperform” rating and set a $38.00 price target (up previously from $36.00) on shares of Kraft Heinz in a research report on Thursday, February 16th. Finally, Piper Sandler increased their price target on shares of Kraft Heinz from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, February 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $42.92.

Kraft Heinz Trading Up 1.0 %

NASDAQ:KHC opened at $39.04 on Friday. The Kraft Heinz Company has a 12 month low of $32.73 and a 12 month high of $44.87. The stock has a market cap of $47.82 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 3.47 and a beta of 0.70. The company has a 50-day moving average price of $40.34 and a 200-day moving average price of $38.33. The company has a current ratio of 0.87, a quick ratio of 0.47 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Kraft Heinz had a net margin of 8.92% and a return on equity of 7.03%. The company had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $7.23 billion. During the same period last year, the company posted $0.79 EPS. Kraft Heinz’s revenue was up 10.0% on a year-over-year basis. Equities analysts predict that The Kraft Heinz Company will post 2.72 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, March 9th. This represents a $1.60 dividend on an annualized basis and a yield of 4.10%. Kraft Heinz’s dividend payout ratio (DPR) is currently 83.77%.

Kraft Heinz Profile

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The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015, and is headquartered in Pittsburgh, PA.