Ignite Planners LLC Sells 3,362 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Ignite Planners LLC lessened its stake in The Kraft Heinz Company (NASDAQ:KHC) by 17.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,448 shares of the company’s stock after selling 3,362 shares during the period. Ignite Planners LLC’s holdings in Kraft Heinz were worth $573,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Solutions LLC bought a new stake in shares of Kraft Heinz during the 4th quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Kraft Heinz during the 4th quarter valued at about $32,000. BKM Wealth Management LLC bought a new stake in shares of Kraft Heinz during the 4th quarter valued at about $33,000. Headinvest LLC bought a new stake in shares of Kraft Heinz during the 3rd quarter valued at about $38,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Kraft Heinz during the 4th quarter valued at about $38,000. Institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

KHC has been the topic of several research analyst reports. Bank of America upped their target price on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Piper Sandler cut their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $33.21 on Tuesday. The company has a market cap of $40.33 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 2.66 and a beta of 0.57. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The business has a 50 day moving average price of $35.56 and a 200-day moving average price of $36.15. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. The firm had revenue of $6.41 billion during 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 quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. Equities analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed 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. This represents a $1.60 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Insider Transactions at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the company’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 value of $364,533.00. Following the completion of the transaction, the insider now directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Kraft Heinz Company 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.