The Kraft Heinz Company (NASDAQ:KHC) Stock Holdings Lifted by Sound Income Strategies LLC

Sound Income Strategies LLC lifted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 124.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,675 shares of the company’s stock after acquiring an additional 152,584 shares during the quarter. Sound Income Strategies LLC’s holdings in Kraft Heinz were worth $8,466,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KHC. State Street Corp boosted its position in shares of Kraft Heinz by 16.7% in the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after purchasing an additional 6,366,732 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after buying an additional 1,944,019 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Kraft Heinz in the third quarter worth approximately $411,304,000. Legal & General Group Plc raised its holdings in shares of Kraft Heinz by 9.7% during the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after acquiring an additional 799,581 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after acquiring an additional 1,238,200 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KHC. Barclays cut their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. The Goldman Sachs Group reduced their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Mizuho reduced their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the company from $40.00 to $38.00 in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.23.

Kraft Heinz Price Performance

KHC stock opened at $29.07 on Friday. The firm has a market cap of $35.15 billion, a PE ratio of 26.19, a PEG ratio of 3.45 and a beta of 0.48. The Kraft Heinz Company has a 1 year low of $28.37 and a 1 year high of $38.96. The company has a fifty day simple moving average of $30.62 and a 200 day simple moving average of $33.16. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Sell-side analysts anticipate that The Kraft Heinz Company will post 3 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.50%. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

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.