The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHCFree Report) by 20.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,763 shares of the company’s stock after selling 3,485 shares during the period. Parallel Advisors LLC’s holdings in Kraft Heinz were worth $509,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new position in Kraft Heinz in the 4th quarter worth about $32,000. BKM Wealth Management LLC acquired a new stake in Kraft Heinz during the 4th quarter worth about $33,000. Headinvest LLC acquired a new stake in Kraft Heinz during the 3rd quarter worth about $38,000. VisionPoint Advisory Group LLC boosted its position in Kraft Heinz by 326.1% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,223 shares of the company’s stock worth $41,000 after acquiring an additional 936 shares during the period. Finally, Anchor Investment Management LLC acquired a new stake in Kraft Heinz during the 4th quarter worth about $47,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Bank of America raised their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Piper Sandler upgraded Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price objective for the company in a research report on Wednesday, May 22nd. Wells Fargo & Company decreased their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Kraft Heinz has a consensus rating of “Moderate Buy” and a consensus price target of $40.08.

Get Our Latest Stock Report on Kraft Heinz

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $35.37 on Friday. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $36.61 and its two-hundred day moving average is $36.25. The company has a market cap of $42.95 billion, a P/E ratio of 15.45, a P/E/G ratio of 2.78 and a beta of 0.65. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96.

Kraft Heinz (NASDAQ:KHCGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. On average, equities analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insider Activity

In other news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the sale, the insider now directly owns 158,266 shares in the company, valued at $5,689,662.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by company insiders.

About Kraft Heinz

(Free Report)

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.

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

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