Belpointe Asset Management LLC Purchases Shares of 6,821 The Kraft Heinz Company (NASDAQ:KHC)

Belpointe Asset Management LLC purchased a new stake in The Kraft Heinz Company (NASDAQ:KHCFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,821 shares of the company’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hudson Edge Investment Partners Inc. grew its holdings in shares of Kraft Heinz by 11.2% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 159,646 shares of the company’s stock worth $5,904,000 after purchasing an additional 16,065 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in shares of Kraft Heinz by 14.8% in the 4th quarter. Rafferty Asset Management LLC now owns 357,553 shares of the company’s stock worth $13,222,000 after purchasing an additional 46,024 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Kraft Heinz by 1.0% in the 4th quarter. CIBC Asset Management Inc now owns 292,763 shares of the company’s stock worth $10,826,000 after purchasing an additional 2,799 shares during the last quarter. NEOS Investment Management LLC grew its holdings in shares of Kraft Heinz by 2.4% in the 4th quarter. NEOS Investment Management LLC now owns 51,657 shares of the company’s stock worth $1,910,000 after purchasing an additional 1,229 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Kraft Heinz by 28.4% in the 4th quarter. Jones Financial Companies Lllp now owns 4,552 shares of the company’s stock worth $168,000 after purchasing an additional 1,006 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $34.39 on Friday. 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 1 year low of $30.68 and a 1 year high of $38.96. The company has a market cap of $41.76 billion, a PE ratio of 15.02, a PEG ratio of 2.77 and a beta of 0.57. The company’s 50-day moving average is $36.44 and its two-hundred day moving average is $36.30.

Kraft Heinz (NASDAQ:KHCGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the prior year, the company posted $0.68 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.65%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Piper Sandler raised shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 target price on the stock in a report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Wells Fargo & Company reduced their price target on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. Finally, Bank of America upped their price target on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz has an average rating of “Moderate Buy” and a consensus target price of $40.08.

Get Our Latest Analysis on Kraft Heinz

Insider Activity

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

Kraft Heinz Company Profile

(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.

Further Reading

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

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