Axiom Advisory LLC Raises Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Axiom Advisory LLC lifted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 5.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,594 shares of the company’s stock after acquiring an additional 327 shares during the period. Axiom Advisory LLC’s holdings in Kraft Heinz were worth $227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Welch Group LLC grew its position in shares of Kraft Heinz by 1.9% in the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock valued at $549,000 after purchasing an additional 272 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of Kraft Heinz by 13.2% during 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 increased its holdings 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 buying an additional 301 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Kraft Heinz by 2.5% in the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after buying an additional 314 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. grew its position in 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.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler reduced their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Barclays lifted their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. reduced their price target on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Citigroup reduced their price target on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company raised their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.55.

Kraft Heinz Price Performance

Shares of KHC stock opened at $34.67 on Thursday. The firm’s 50 day moving average is $35.16 and its 200-day moving average is $35.03. 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 $42.10 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 3.39 and a beta of 0.49. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. Kraft Heinz’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 EPS. Sell-side analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Insider Activity

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Kraft Heinz 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.