Wealth Enhancement Advisory Services LLC Cuts Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Wealth Enhancement Advisory Services LLC lessened its stake in The Kraft Heinz Company (NASDAQ:KHC) by 38.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,581 shares of the company’s stock after selling 36,168 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Kraft Heinz were worth $2,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Kraft Heinz by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock worth $2,603,349,000 after acquiring an additional 183,234 shares in the last quarter. Morgan Stanley boosted its holdings in Kraft Heinz by 7.2% in the third quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock worth $423,216,000 after acquiring an additional 850,326 shares in the last quarter. Legal & General Group Plc boosted its holdings in Kraft Heinz by 1.2% in the third quarter. Legal & General Group Plc now owns 6,970,103 shares of the company’s stock worth $234,474,000 after acquiring an additional 85,295 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kraft Heinz by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,577,285 shares of the company’s stock worth $169,268,000 after purchasing an additional 137,169 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Kraft Heinz by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock worth $113,960,000 after purchasing an additional 474,758 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now directly owns 158,266 shares in the company, valued at approximately $5,689,662.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.37% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on KHC shares. Deutsche Bank Aktiengesellschaft lifted their target price on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Piper Sandler decreased their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Bank of America lifted their target price on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company decreased their price target on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, June 27th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.75.

Kraft Heinz Stock Up 0.3 %

Shares of KHC opened at $32.09 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The stock has a market capitalization of $38.97 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 2.58 and a beta of 0.53. The stock has a 50 day moving average price of $34.81 and a 200 day moving average price of $35.92.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 EPS. Equities research analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 6th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend was Thursday, June 6th. Kraft Heinz’s payout ratio is currently 69.87%.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.