Global Retirement Partners LLC Raises Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Posted by Defense World Staff on Aug 10th, 2023

Global Retirement Partners LLC grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 11.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,802 shares of the company’s stock after acquiring an additional 585 shares during the quarter. Global Retirement Partners LLC’s holdings in Kraft Heinz were worth $234,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KHC. Corrado Advisors LLC purchased a new stake in shares of Kraft Heinz during the 4th quarter valued at about $28,000. Heritage Wealth Management LLC purchased a new stake in Kraft Heinz during the fourth quarter valued at approximately $29,000. ST Germain D J Co. Inc. bought a new position in Kraft Heinz in the fourth quarter worth approximately $30,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Kraft Heinz in the 4th quarter worth $35,000. Finally, Salem Investment Counselors Inc. increased its position in Kraft Heinz by 69.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 907 shares of the company’s stock worth $37,000 after buying an additional 373 shares in the last quarter. 72.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Bank of America boosted their price objective on Kraft Heinz from $48.00 to $50.00 in a research note on Thursday, May 4th. Barclays decreased their price objective on shares of Kraft Heinz from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 20th. Morgan Stanley dropped their target price on shares of Kraft Heinz from $44.00 to $39.00 in a report on Wednesday, June 14th. Stifel Nicolaus boosted their price objective on Kraft Heinz from $44.00 to $46.00 in a research report on Thursday, May 4th. Finally, Mizuho cut their target price on Kraft Heinz from $50.00 to $47.00 in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $42.54.

Read Our Latest Research Report on Kraft Heinz

Insider Transactions at Kraft Heinz

In other news, CAO Lande Rashida La sold 16,453 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $35.07, for a total value of $577,006.71. Following the transaction, the chief accounting officer now directly owns 206,243 shares in the company, valued at $7,232,942.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

Kraft Heinz Stock Up 0.2 %

Shares of KHC opened at $34.52 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.95 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $36.15 and a 200 day moving average of $38.15. The company has a market cap of $42.40 billion, a PE ratio of 13.48, a P/E/G ratio of 2.60 and a beta of 0.67. The Kraft Heinz Company has a 52-week low of $32.73 and a 52-week high of $42.80.

Kraft Heinz (NASDAQ:KHC – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. Kraft Heinz had a net margin of 11.65% and a return on equity of 7.45%. The company had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.80 billion. During the same period in the prior year, the company posted $0.70 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts expect that The Kraft Heinz Company will post 2.89 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.63%. The ex-dividend date is Thursday, August 31st. Kraft Heinz’s dividend payout ratio (DPR) is presently 62.50%.

Kraft Heinz 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.