In a recent filing with the Securities & Exchange Commission, Thrive Wealth Management LLC disclosed that it has reduced its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 43.6% during the second quarter of this year. According to the filing, the firm now owns 6,047 shares of Kraft Heinz after selling 4,669 shares. These remaining shares are valued at approximately $215,000.
Following this development, several equities research analysts have issued reports on Kraft Heinz. StockNews.com recently initiated coverage on the company and assigned a “hold” rating. TD Cowen also initiated coverage and gave Kraft Heinz a “market perform” rating with a price objective of $35.00 per share. Adding to this, Barclays lowered their target price from $40.00 to $38.00 but maintained an “equal weight” rating for the stock. Similarly, Morgan Stanley decreased their price target from $44.00 to $39.00, while Mizuho adjusted their price objective from $50.00 to $47.00.
With these ratings in mind, it is important to note that one analyst has given a sell rating on KHC stock, nine have issued hold ratings, and three have recommended buying the stock. According to Bloomberg data, the average rating for Kraft Heinz is currently designated as “Hold,” with a consensus target price of $42.00.
On September 19th, KHC stock opened at $33.42 marking its 50-day moving average at $34.52 and its two-hundred-day moving average at $36.94 respectively. Over the past year, its share prices have ranged between a low of $32.42 and a high of $42.80.
The Kraft Heinz Company continues to maintain a market capitalization value of around $41 billion and boasts key financial indicators such as a PE ratio of 13.05, a P/E/G ratio of 2.49, and a beta of 0.68. The company also has a quick ratio of 0.50 and a current ratio of 0.95, signifying its ability to meet short-term obligations effectively. Furthermore, the debt-to-equity ratio for Kraft Heinz stands at 0.39.
As always in investing, it is crucial to carefully consider the available information before making any decisions regarding stock purchases or sales. With an average rating of “Hold” and a consensus target price of $42.00 per share, investors are encouraged to take into account the analyses provided by industry experts while formulating their investment strategies for The Kraft Heinz Company.
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Institutional Investors Adjust Holdings in Kraft Heinz while Analysts Provide Ratings and Price Targets
Institutional investors have been actively adjusting their holdings in Kraft Heinz, as reported recently. Good Life Advisors LLC increased its stake in the company by 3.5% during the first quarter, now owning 7,199 shares worth $278,000. Ellevest Inc. also raised its stake in Kraft Heinz by 30.6% during the same period, with ownership of 1,062 shares valued at $41,000. Greenleaf Trust augmented its holdings by 1.5% to own 17,210 shares worth $666,000 by the end of the first quarter. Ancora Advisors LLC exhibited substantial growth in its investment with a 69.9% increase during the same period and now owns 661 shares worth $26,000. Furthermore, ICA Group Wealth Management LLC experienced a growth rate of 10.5%, yielding ownership of 3,165 shares valued at $122,000.
These institutional investors and hedge funds collectively own approximately 75.39% of the company’s stock.
In other news regarding Kraft Heinz, CAO Lande Rashida La recently sold a total of 16,453 shares on Monday, August 7th at an average price of $35.07 per share. The transaction amounted to a total value of $577,006.71. Following this sale, La holds a remaining total of 206,243 shares which are valued at approximately $7,232,942.01.
This transaction was disclosed through a legal filing with the Securities and Exchange Commission (SEC), accessible via this hyperlink provided alongside.
Insider ownership currently stands at around 1.40% of the company’s stock.
A number of equities research analysts have released reports regarding Kraft Heinz as well.
StockNews.com initiated coverage on Kraft Heinz with a “hold” rating for the company on Thursday, August 17th.
TD Cowen also initiated coverage on the company, providing a “market perform” rating and a price target of $35.00 for Kraft Heinz on Wednesday, September 13th.
Barclays analysts reduced their target price for the stock from $40.00 to $38.00 while maintaining an “equal weight” rating on Thursday, July 20th.
Morgan Stanley also decreased their estimates, lowering the price target from $44.00 to $39.00 in a research report issued on Wednesday, June 14th.
Additionally, Mizuho analyst modified their forecast from $50.00 to $47.00 in another research report released on Monday, July 31st.
Based on data from Bloomberg, the average rating given by analysts is “Hold,” along with a consensus target price of $42.00.
Regarding its quarterly earnings results, Kraft Heinz (NASDAQ:KHC) announced results for the period ending August 2nd.
The company reported earnings per share (EPS) of $0.79 for the quarter, a positive surprise that exceeded analysts’ consensus estimate of $0.74 by $0.05.
Furthermore, Kraft Heinz generated revenue of $6.72 billion during that fiscal period compared to analyst predictions estimating revenue at approximately $6.80 billion.
Net margin for the company stood at 11.65% with a return on equity of 7.45%. The business experienced a revenue growth rate of 2.5% in comparison to the same quarter last year when it achieved an EPS of $0.70.
Analysts project that Kraft Heinz will post an earnings per share figure of approximately 2.89 for the current fiscal year.
Meanwhile, Kraft Heinz has announced its upcoming quarterly dividend which is expected to be paid out on Friday, September 29th.
Investors who are recorded as shareholders by Friday, September 1st will receive a $0.40 dividend per share. This represents an annualized dividend of $1.60 and a yield of 4.79%.
The ex-dividend date for this payment is set for Thursday, August 31st.
As of now, Kraft Heinz has a dividend payout ratio of 62.50%.
