10,033 Shares in The Kraft Heinz Company (NASDAQ:KHC) Acquired by Foundations Investment Advisors LLC

Posted by Defense World Staff on Mar 21st, 2023

Foundations Investment Advisors LLC purchased a new position in The Kraft Heinz Company (NASDAQ:KHC – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,033 shares of the company’s stock, valued at approximately $408,000.

Other hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. lifted its holdings in shares of Kraft Heinz by 7.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 96,470 shares of the company’s stock worth $3,217,000 after purchasing an additional 7,093 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Kraft Heinz by 419.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 419,701 shares of the company’s stock valued at $16,007,000 after acquiring an additional 338,875 shares in the last quarter. Birmingham Capital Management Co. Inc. AL raised its stake in Kraft Heinz by 1.6% during the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 58,790 shares of the company’s stock valued at $1,961,000 after acquiring an additional 910 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in Kraft Heinz by 8.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,087 shares of the company’s stock valued at $203,000 after acquiring an additional 499 shares in the last quarter. Finally, Natixis raised its stake in Kraft Heinz by 62.1% during the 2nd quarter. Natixis now owns 227,275 shares of the company’s stock valued at $8,695,000 after acquiring an additional 87,027 shares in the last quarter. Institutional investors own 68.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KHC. StockNews.com began coverage on Kraft Heinz in a research note on Thursday, March 16th. They set a “hold” rating on the stock. UBS Group lifted their target price on Kraft Heinz from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Credit Suisse Group reiterated an “underperform” rating and set a $38.00 price target (up from $36.00) on shares of Kraft Heinz in a research report on Thursday, February 16th. Wells Fargo & Company started coverage on Kraft Heinz in a research report on Tuesday, January 3rd. They set an “equal weight” rating and a $43.00 price target on the stock. Finally, Morgan Stanley lifted their price target on Kraft Heinz from $41.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, February 17th. One equities research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.67.

Insider Activity

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

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $37.94 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.87 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $46.48 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 3.40 and a beta of 0.70. The stock’s fifty day simple moving average is $39.70 and its 200 day simple moving average is $38.32. The Kraft Heinz Company has a 52-week low of $32.73 and a 52-week high of $44.87.

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

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be issued 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 dividend yield of 4.22%. Kraft Heinz’s dividend payout ratio is 83.77%.

About Kraft Heinz

(Get Rating)

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.