Silverlake Wealth Management LLC Sells 1,045 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Silverlake Wealth Management LLC reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,472 shares of the company’s stock after selling 1,045 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Kraft Heinz were worth $649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in KHC. Welch Group LLC lifted its stake in Kraft Heinz by 1.9% in the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock valued at $549,000 after buying an additional 272 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Kraft Heinz by 13.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock valued at $89,000 after acquiring an additional 282 shares during the period. Integrated Advisors Network LLC boosted its stake in Kraft Heinz by 2.4% during the 4th 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 last quarter. MADDEN SECURITIES Corp grew its holdings in Kraft Heinz by 2.4% during the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after purchasing an additional 303 shares during the period. Finally, HB Wealth Management LLC increased its stake in Kraft Heinz by 2.5% in the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after purchasing an additional 314 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays raised their price objective on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Piper Sandler dropped their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Evercore ISI reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Bank of America cut their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $37.55.

Kraft Heinz Price Performance

NASDAQ KHC traded up $0.39 on Friday, hitting $35.22. 5,008,436 shares of the company’s stock were exchanged, compared to its average volume of 7,818,217. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The stock has a 50-day moving average of $35.13 and a 200-day moving average of $35.01. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The stock has a market cap of $42.58 billion, a price-to-earnings ratio of 22.58, a P/E/G ratio of 3.39 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 EPS. Analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date was Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 102.56%.

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.