7,839 Shares in The Kraft Heinz Company (NASDAQ:KHC) Acquired by KMG Fiduciary Partners LLC

Posted by Defense World Staff on Mar 22nd, 2023

KMG Fiduciary Partners LLC bought a new position in The Kraft Heinz Company (NASDAQ:KHC – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,839 shares of the company’s stock, valued at approximately $319,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its position in Kraft Heinz by 7.9% in the third 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 period. Allianz Asset Management GmbH lifted its position in shares of 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 during the last quarter. Birmingham Capital Management Co. Inc. AL lifted its position in shares of 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 during the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of 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 during the last quarter. Finally, Natixis lifted its position in shares of 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 during the last quarter. 68.80% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Trading Up 0.3 %

NASDAQ KHC opened at $38.04 on Wednesday. The Kraft Heinz Company has a 1-year low of $32.73 and a 1-year high of $44.87. The company has a current ratio of 0.87, a quick ratio of 0.47 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $46.60 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 3.40 and a beta of 0.70. The firm’s fifty day simple moving average is $39.61 and its 200-day simple moving average is $38.33.

Kraft Heinz (NASDAQ:KHC – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The company reported $0.85 earnings per share for the quarter, topping 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 business had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same period in the prior year, the business 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 anticipate 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 announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.21%. The ex-dividend date is Thursday, March 9th. Kraft Heinz’s payout ratio is 83.77%.

Insiders Place Their Bets

In other Kraft Heinz news, EVP Melissa Werneck sold 3,500 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $42.39, for a total transaction of $148,365.00. Following the transaction, the executive vice president now directly owns 266,583 shares of the company’s stock, valued at $11,300,453.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Kraft Heinz news, EVP Melissa Werneck sold 3,500 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $42.39, for a total transaction of $148,365.00. Following the transaction, the executive vice president now directly owns 266,583 shares of the company’s stock, valued at $11,300,453.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Flavio Torres sold 250,571 shares of the 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 transaction, the executive vice president now directly owns 188,983 shares in the company, valued at $7,479,947.14. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KHC. UBS Group increased their price objective on Kraft Heinz from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, February 16th. Piper Sandler increased their price objective on Kraft Heinz from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, February 13th. Morgan Stanley increased their target price on Kraft Heinz from $41.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 17th. Wells Fargo & Company initiated coverage on Kraft Heinz in a report on Tuesday, January 3rd. They issued an “equal weight” rating and a $43.00 target price for the company. Finally, Mizuho increased their target price on Kraft Heinz from $48.00 to $50.00 in a report on Friday, January 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and an average price target of $42.67.

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.