Buck Wealth Strategies LLC Takes $594,000 Position in The Kraft Heinz Company (NASDAQ:KHC)

Buck Wealth Strategies LLC purchased a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 18,438 shares of the company’s stock, valued at approximately $594,000.

Several other hedge funds and other institutional investors have also bought and sold shares of KHC. Welch Group LLC raised its stake in shares of Kraft Heinz by 1.9% during the 1st quarter. Welch Group LLC now owns 14,868 shares of the company’s stock worth $549,000 after purchasing an additional 272 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Kraft Heinz by 13.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock worth $89,000 after acquiring an additional 282 shares during the period. Integrated Advisors Network LLC boosted its stake in Kraft Heinz by 2.4% in the fourth quarter. Integrated Advisors Network LLC now owns 12,881 shares of the company’s stock valued at $476,000 after acquiring an additional 301 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after acquiring an additional 314 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. increased its stake in shares of Kraft Heinz by 0.3% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock worth $4,044,000 after purchasing an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KHC shares. The Goldman Sachs Group assumed coverage on Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective on the stock. Bank of America cut their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Evercore ISI dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Piper Sandler reduced their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. Finally, Citigroup dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $37.45.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $35.37 on Friday. The firm’s 50 day simple moving average is $34.96 and its 200 day simple moving average is $35.04. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $38.96. The firm has a market capitalization of $42.95 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the business posted $0.79 earnings per share. The firm’s revenue was down 3.3% compared to the same quarter last year. As a group, analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.52%. Kraft Heinz’s dividend payout ratio (DPR) is presently 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.