LJI Wealth Management LLC Reduces Position in The Kraft Heinz Company (NASDAQ:KHC)

LJI Wealth Management LLC reduced its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 36.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,800 shares of the company’s stock after selling 5,150 shares during the period. LJI Wealth Management LLC’s holdings in Kraft Heinz were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bleakley Financial Group LLC grew its position in shares of Kraft Heinz by 6.8% in the first quarter. Bleakley Financial Group LLC now owns 13,267 shares of the company’s stock valued at $490,000 after purchasing an additional 842 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Kraft Heinz by 43.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 170,253 shares of the company’s stock valued at $6,282,000 after buying an additional 51,876 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Kraft Heinz by 11.1% in the 1st quarter. Kingsview Wealth Management LLC now owns 17,470 shares of the company’s stock worth $645,000 after acquiring an additional 1,751 shares during the last quarter. HBK Sorce Advisory LLC purchased a new position in shares of Kraft Heinz during the 1st quarter worth $212,000. Finally, Blair William & Co. IL boosted its position in shares of Kraft Heinz by 2.4% during the 1st quarter. Blair William & Co. IL now owns 226,868 shares of the company’s stock valued at $8,371,000 after acquiring an additional 5,336 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Stock Down 2.0 %

Shares of Kraft Heinz stock traded down $0.65 on Friday, reaching $31.14. 17,403,523 shares of the company were exchanged, compared to its average volume of 7,865,633. The stock’s 50 day moving average price is $34.53 and its 200-day moving average price is $34.46. 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 $30.40 and a 1-year high of $38.96. The company has a market cap of $37.65 billion, a P/E ratio of 28.05, a price-to-earnings-growth ratio of 3.67 and a beta of 0.49.

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

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.14%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Mizuho reduced their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Piper Sandler reduced their target price on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Citigroup lowered their target price on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, The Goldman Sachs Group dropped their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by insiders.

Kraft Heinz Company 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.