Sigma Planning Corp Grows Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Posted by Defense World Staff on Apr 6th, 2023

Sigma Planning Corp increased its stake in The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 100.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,057 shares of the company’s stock after buying an additional 14,078 shares during the period. Sigma Planning Corp’s holdings in Kraft Heinz were worth $1,142,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KHC. Vanguard Group Inc. grew its holdings in Kraft Heinz by 15.3% during the 3rd quarter. Vanguard Group Inc. now owns 67,502,147 shares of the company’s stock worth $2,251,197,000 after acquiring an additional 8,948,708 shares in the last quarter. BlackRock Inc. lifted its holdings in Kraft Heinz by 25.3% during the 3rd quarter. BlackRock Inc. now owns 56,572,464 shares of the company’s stock worth $1,886,694,000 after buying an additional 11,428,520 shares during the last quarter. State Street Corp grew its position in shares of Kraft Heinz by 8.2% in the 3rd quarter. State Street Corp now owns 36,736,098 shares of the company’s stock worth $1,225,149,000 after acquiring an additional 2,789,561 shares in the last quarter. Capital World Investors increased its holdings in shares of Kraft Heinz by 96.5% in the 1st quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock valued at $524,360,000 after acquiring an additional 6,537,000 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Kraft Heinz by 1.0% during the 3rd quarter. LSV Asset Management now owns 8,202,664 shares of the company’s stock valued at $273,559,000 after acquiring an additional 77,312 shares in the last quarter. 68.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kraft Heinz

In related news, EVP Flavio Torres sold 250,571 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 188,983 shares of the company’s stock, valued at $7,479,947.14. The sale 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 company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $42.39, for a total value of $148,365.00. Following the transaction, the executive vice president now owns 266,583 shares of the company’s stock, valued at $11,300,453.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Flavio Torres sold 250,571 shares of the firm’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $39.58, for a total value of $9,917,600.18. Following the sale, the executive vice president now directly owns 188,983 shares of the company’s stock, 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.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Kraft Heinz from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, February 13th. Mizuho boosted their price objective on shares of Kraft Heinz from $48.00 to $50.00 in a research report on Friday, January 6th. StockNews.com started coverage on shares of Kraft Heinz in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Credit Suisse Group reaffirmed an “underperform” rating and set a $38.00 target price (up from $36.00) on shares of Kraft Heinz in a report on Thursday, February 16th. Finally, Wells Fargo & Company began coverage on Kraft Heinz in a report on Tuesday, January 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.67.

Kraft Heinz Price Performance

Shares of KHC opened at $39.02 on Thursday. The stock’s fifty day moving average is $39.03 and its 200-day moving average is $38.49. The firm has a market capitalization of $47.88 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 3.50 and a beta of 0.69. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.47 and a current ratio of 0.87. The Kraft Heinz Company has a one year low of $32.73 and a one year 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, 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 company had revenue of $7.38 billion during the quarter, compared to analyst estimates of $7.23 billion. During the same period in the prior year, the business posted $0.79 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts anticipate that The Kraft Heinz Company will post 2.71 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, March 9th. Kraft Heinz’s dividend payout ratio (DPR) is presently 83.77%.

About Kraft Heinz

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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.