Allworth Financial LP grew its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 34.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,511 shares of the company’s stock after purchasing an additional 3,751 shares during the period. Allworth Financial LP’s holdings in Kraft Heinz were worth $515,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Venturi Wealth Management LLC bought a new position in shares of Kraft Heinz during the first quarter worth about $77,000. Toroso Investments LLC grew its position in Kraft Heinz by 91.2% in the 1st quarter. Toroso Investments LLC now owns 51,643 shares of the company’s stock valued at $1,997,000 after buying an additional 24,629 shares in the last quarter. Personal CFO Solutions LLC grew its position in Kraft Heinz by 15.2% in the 1st quarter. Personal CFO Solutions LLC now owns 6,448 shares of the company’s stock valued at $249,000 after buying an additional 849 shares in the last quarter. Valeo Financial Advisors LLC grew its position in Kraft Heinz by 11.7% in the 1st quarter. Valeo Financial Advisors LLC now owns 37,628 shares of the company’s stock valued at $1,455,000 after buying an additional 3,934 shares in the last quarter. Finally, MGO One Seven LLC grew its position in Kraft Heinz by 102.9% in the 1st quarter. MGO One Seven LLC now owns 32,144 shares of the company’s stock valued at $1,243,000 after buying an additional 16,302 shares in the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the stock. Mizuho decreased their target price on shares of Kraft Heinz from $50.00 to $47.00 in a research report on Monday, July 31st. TD Cowen initiated coverage on shares of Kraft Heinz in a research report on Wednesday, September 13th. They set a “market perform” rating and a $35.00 price objective for the company. HSBC initiated coverage on shares of Kraft Heinz in a research note on Friday, September 22nd. They set a “hold” rating and a $38.00 price objective for the company. Piper Sandler reduced their price objective on shares of Kraft Heinz from $43.00 to $41.00 in a research note on Monday, June 26th. Finally, StockNews.com initiated coverage on shares of Kraft Heinz in a research report on Thursday, August 17th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.73.
Insider Buying and Selling
In related 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 transaction of $577,006.71. Following the transaction, the chief accounting officer now owns 206,243 shares in the company, valued at approximately $7,232,942.01. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.
Kraft Heinz Stock Down 0.3 %
KHC opened at $33.64 on Monday. The Kraft Heinz Company has a fifty-two week low of $32.42 and a fifty-two week high of $42.80. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.95 and a quick ratio of 0.50. The firm’s fifty day moving average price is $34.17 and its two-hundred day moving average price is $36.64. The company has a market capitalization of $41.32 billion, a P/E ratio of 13.14, a P/E/G ratio of 2.50 and a beta of 0.66.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.80 billion. During the same quarter in the previous year, the company earned $0.70 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, analysts anticipate that The Kraft Heinz Company will post 2.89 EPS for the current year.
Kraft Heinz Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $1.60 annualized dividend and a yield of 4.76%. Kraft Heinz’s dividend payout ratio (DPR) is 62.50%.
About Kraft Heinz
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.
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