Prime Capital Investment Advisors LLC Trims Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Posted by Defense World Staff on Aug 9th, 2023

Prime Capital Investment Advisors LLC reduced its stake in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 40.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,429 shares of the company’s stock after selling 3,763 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Kraft Heinz were worth $210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Kraft Heinz by 1,835.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock valued at $794,964,000 after purchasing an additional 18,518,584 shares during the last quarter. Capital World Investors increased its stake in Kraft Heinz by 96.5% in the first quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock valued at $524,360,000 after purchasing an additional 6,537,000 shares during the last quarter. Norges Bank acquired a new position in Kraft Heinz in the fourth quarter valued at $252,224,000. Morgan Stanley increased its stake in Kraft Heinz by 18.9% in the fourth quarter. Morgan Stanley now owns 10,795,916 shares of the company’s stock valued at $439,502,000 after purchasing an additional 1,715,701 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Kraft Heinz by 2.7% in the first quarter. Vanguard Group Inc. now owns 57,382,888 shares of the company’s stock valued at $2,260,312,000 after purchasing an additional 1,491,398 shares during the last quarter. 72.13% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Trading Down 1.5 %

Shares of NASDAQ KHC opened at $34.46 on Wednesday. The company has a market cap of $42.33 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 2.60 and a beta of 0.67. The Kraft Heinz Company has a 12-month low of $32.73 and a 12-month high of $42.80. The company has a current ratio of 0.95, a quick ratio of 0.50 and a debt-to-equity ratio of 0.39. The stock’s 50 day simple moving average is $36.29 and its 200 day simple moving average is $38.22.

Kraft Heinz (NASDAQ:KHC – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. Kraft Heinz had a return on equity of 7.45% and a net margin of 11.65%. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.80 billion. During the same period last year, the firm earned $0.70 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. Equities research analysts expect that The Kraft Heinz Company will post 2.89 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Thursday, August 31st. Kraft Heinz’s dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Mizuho dropped their price target on Kraft Heinz from $50.00 to $47.00 in a research note on Monday, July 31st. Bank of America increased their price target on Kraft Heinz from $48.00 to $50.00 in a report on Thursday, May 4th. Deutsche Bank Aktiengesellschaft reduced their target price on Kraft Heinz from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, April 18th. StockNews.com downgraded Kraft Heinz from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, The Goldman Sachs Group increased their target price on Kraft Heinz from $45.00 to $48.00 in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.54.

Read Our Latest Stock Analysis on KHC

Kraft Heinz Company Profile

(Free Report)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.