Summit Financial Group Inc. Has $297,000 Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Summit Financial Group Inc. lessened its stake in shares of The Kraft Heinz Company (NASDAQ:KHCFree Report) by 8.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,058 shares of the company’s stock after selling 700 shares during the quarter. Summit Financial Group Inc.’s holdings in Kraft Heinz were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. FSC Wealth Advisors LLC increased its position in Kraft Heinz by 23.4% during the fourth quarter. FSC Wealth Advisors LLC now owns 1,424 shares of the company’s stock worth $53,000 after acquiring an additional 270 shares during the period. Archer Investment Corp increased its position in Kraft Heinz by 2.0% during the fourth quarter. Archer Investment Corp now owns 14,709 shares of the company’s stock worth $544,000 after acquiring an additional 294 shares during the period. Ingalls & Snyder LLC increased its position in Kraft Heinz by 3.1% during the fourth quarter. Ingalls & Snyder LLC now owns 10,005 shares of the company’s stock worth $370,000 after acquiring an additional 300 shares during the period. Integrated Advisors Network LLC increased its position in Kraft Heinz by 2.4% during the fourth quarter. Integrated Advisors Network LLC now owns 12,881 shares of the company’s stock worth $476,000 after acquiring an additional 301 shares during the period. Finally, Johnson Investment Counsel Inc. increased its position in Kraft Heinz by 2.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 14,663 shares of the company’s stock worth $542,000 after acquiring an additional 307 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insiders Place Their Bets

In other news, insider Lande Rashida La sold 10,140 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the transaction, the insider now directly owns 158,266 shares in the company, valued at $5,689,662.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Piper Sandler raised shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price objective on the stock in a research note on Wednesday, May 22nd. Finally, Bank of America upped their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.08.

Read Our Latest Analysis on Kraft Heinz

Kraft Heinz Stock Performance

NASDAQ KHC traded down $0.25 during trading hours on Wednesday, reaching $32.67. 6,080,805 shares of the company were exchanged, compared to its average volume of 7,682,524. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $38.96. The business’s 50 day simple moving average is $35.84 and its 200-day simple moving average is $36.23. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $39.67 billion, a P/E ratio of 14.27, a P/E/G ratio of 2.65 and a beta of 0.57.

Kraft Heinz (NASDAQ:KHCGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.68 earnings per share. On average, equities research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.90%. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Kraft Heinz Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.