Sweeney & Michel LLC Takes Position in The Kraft Heinz Company (NASDAQ:KHC)

Sweeney & Michel LLC purchased a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the 1st quarter, HoldingsChannel reports. The fund purchased 11,350 shares of the company’s stock, valued at approximately $411,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Steward Partners Investment Solutions LLC bought a new stake in Kraft Heinz during the 4th quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Kraft Heinz during the 4th quarter worth approximately $32,000. Transcendent Capital Group LLC bought a new stake in Kraft Heinz during the 4th quarter worth approximately $38,000. AlphaMark Advisors LLC increased its holdings in Kraft Heinz by 128.9% during the 1st quarter. AlphaMark Advisors LLC now owns 1,181 shares of the company’s stock worth $44,000 after acquiring an additional 665 shares during the period. Finally, Janiczek Wealth Management LLC increased its holdings in Kraft Heinz by 409.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 1,187 shares of the company’s stock worth $44,000 after acquiring an additional 954 shares during the period. Institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the topic of a number of research analyst reports. Bank of America decreased their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Barclays decreased their price target on shares of Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. Citigroup decreased their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Wells Fargo & Company cut their price objective on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, June 27th. Finally, Piper Sandler cut their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.83.

Kraft Heinz Trading Up 1.3 %

NASDAQ KHC traded up $0.42 during trading on Tuesday, hitting $33.84. The company had a trading volume of 11,638,508 shares, compared to its average volume of 7,908,276. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The company has a market cap of $41.09 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 3.35 and a beta of 0.53. The company’s fifty day moving average is $33.37 and its 200-day moving average is $35.33.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.43 billion. During the same period in the prior year, the business earned $0.68 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, sell-side analysts predict that The Kraft Heinz Company will post 2.99 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 6th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.60 annualized dividend and a dividend yield of 4.73%. Kraft Heinz’s payout ratio is 69.87%.

Insider Buying and Selling

In related news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction dated 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 approximately $5,689,662.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.

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.