Sigma Planning Corp Increases Stake in The Kraft Heinz Company (NASDAQ:KHC)

Sigma Planning Corp grew its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 36.8% in the third quarter, Holdings Channel reports. The institutional investor owned 66,526 shares of the company’s stock after acquiring an additional 17,892 shares during the quarter. Sigma Planning Corp’s holdings in Kraft Heinz were worth $2,336,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MADDEN SECURITIES Corp boosted its stake in Kraft Heinz by 2.4% during the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock worth $448,000 after buying an additional 303 shares during the last quarter. HB Wealth Management LLC boosted its stake in Kraft Heinz by 2.5% during the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after buying an additional 314 shares during the last quarter. Axiom Advisory LLC boosted its stake in Kraft Heinz by 5.2% during the third quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after buying an additional 327 shares during the last quarter. Norden Group LLC boosted its stake in Kraft Heinz by 3.8% during the second quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after buying an additional 339 shares during the last quarter. Finally, Valley Wealth Managers Inc. boosted its stake in Kraft Heinz by 46.4% during the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after buying an additional 340 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on KHC shares. Wells Fargo & Company upped their price target on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Barclays decreased their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Piper Sandler decreased their price target on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Evercore ISI decreased their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.25.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $32.53 on Tuesday. The stock’s 50-day moving average is $34.92 and its two-hundred day moving average is $34.64. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The Kraft Heinz Company has a 1-year low of $31.58 and a 1-year high of $38.96. The company has a market cap of $39.33 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 3.77 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter in the prior year, the business earned $0.72 EPS. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. Analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.92%. Kraft Heinz’s payout ratio is currently 144.14%.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the transaction, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.