Assetmark Inc. Decreases Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Assetmark Inc. trimmed its position in The Kraft Heinz Company (NASDAQ:KHCGet Rating) by 99.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,976 shares of the company’s stock after selling 682,217 shares during the quarter. Assetmark Inc.’s holdings in Kraft Heinz were worth $66,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC boosted its holdings in shares of Kraft Heinz by 108.8% during the 2nd quarter. Crewe Advisors LLC now owns 691 shares of the company’s stock valued at $26,000 after buying an additional 360 shares in the last quarter. Horan Securities Inc. boosted its stake in Kraft Heinz by 206.4% in the 3rd quarter. Horan Securities Inc. now owns 766 shares of the company’s stock worth $26,000 after purchasing an additional 516 shares in the last quarter. Ossiam bought a new position in Kraft Heinz in the 2nd quarter worth about $28,000. Hallmark Capital Management Inc. bought a new position in Kraft Heinz in the 2nd quarter worth about $32,000. Finally, Bogart Wealth LLC boosted its stake in Kraft Heinz by 149.9% in the 2nd quarter. Bogart Wealth LLC now owns 852 shares of the company’s stock worth $33,000 after purchasing an additional 511 shares in the last quarter. 68.80% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Trading Down 0.4 %

Kraft Heinz stock opened at $39.88 on Friday. The firm has a 50 day moving average of $40.09 and a 200 day moving average of $37.99. The firm has a market capitalization of $48.85 billion, a price-to-earnings ratio of 40.69, a P/E/G ratio of 3.10 and a beta of 0.73. The Kraft Heinz Company has a 12-month low of $32.73 and a 12-month high of $44.87. The company has a current ratio of 0.90, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHCGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. Kraft Heinz had a return on equity of 6.84% and a net margin of 4.71%. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.30 billion. As a group, research analysts predict that The Kraft Heinz Company will post 2.7 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, November 25th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, November 23rd. This represents a $1.60 annualized dividend and a yield of 4.01%. Kraft Heinz’s payout ratio is 163.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Kraft Heinz in a research note on Tuesday, January 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. Morgan Stanley boosted their target price on Kraft Heinz from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 20th. StockNews.com started coverage on Kraft Heinz in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet raised Kraft Heinz from a “c+” rating to a “b-” rating in a research report on Wednesday, November 2nd. Finally, Mizuho boosted their target price on Kraft Heinz from $48.00 to $50.00 in a research report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.17.

Insiders Place Their Bets

In other Kraft Heinz news, EVP Melissa Werneck sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $42.39, for a total value of $148,365.00. Following the completion of the transaction, the executive vice president now directly owns 266,583 shares in the company, valued at approximately $11,300,453.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Kraft Heinz Profile

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The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.

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

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