Cornerstone Wealth Management LLC Takes Position in The Kraft Heinz Company (NASDAQ:KHC)

Cornerstone Wealth Management LLC purchased a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,542 shares of the company’s stock, valued at approximately $354,000.

Other hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 529 shares during the period. Ashton Thomas Securities LLC acquired a new position in Kraft Heinz in the third quarter valued at about $27,000. Sawyer & Company Inc bought a new position in Kraft Heinz during the fourth quarter worth about $25,000. DiNuzzo Private Wealth Inc. grew its position in shares of Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares during the period. Finally, Bangor Savings Bank bought a new stake in shares of Kraft Heinz in the 3rd quarter valued at about $32,000. Institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. UBS Group decreased their price objective on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Evercore ISI reissued an “in-line” rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Citigroup dropped their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Mizuho decreased their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, TD Cowen dropped their price target on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $34.77.

Kraft Heinz Trading Up 0.8 %

NASDAQ KHC opened at $29.31 on Monday. The stock has a market capitalization of $35.44 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 3.45 and a beta of 0.48. The Kraft Heinz Company has a 52 week low of $28.37 and a 52 week high of $38.96. The stock’s 50 day moving average price is $30.53 and its two-hundred day moving average price is $33.12. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. As a group, analysts anticipate that The Kraft Heinz Company will post 3 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, December 27th. Investors of record on Friday, November 29th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date was Friday, November 29th. Kraft Heinz’s dividend payout ratio is currently 144.14%.

About Kraft Heinz

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.