Cullinan Associates Inc. Has $475,000 Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Cullinan Associates Inc. boosted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 19.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 12,881 shares of the company’s stock after buying an additional 2,134 shares during the quarter. Cullinan Associates Inc.’s holdings in Kraft Heinz were worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. AlphaMark Advisors LLC raised its stake in shares of Kraft Heinz by 128.9% in the 1st quarter. AlphaMark Advisors LLC now owns 1,181 shares of the company’s stock valued at $44,000 after buying an additional 665 shares in the last quarter. SteelPeak Wealth LLC grew its holdings in Kraft Heinz by 15.5% during the 1st quarter. SteelPeak Wealth LLC now owns 56,421 shares of the company’s stock worth $2,082,000 after acquiring an additional 7,572 shares during the last quarter. Foguth Wealth Management LLC. bought a new stake in Kraft Heinz during the 1st quarter worth about $323,000. Alpha Omega Wealth Management LLC grew its holdings in Kraft Heinz by 3.4% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 14,884 shares of the company’s stock worth $549,000 after acquiring an additional 484 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in Kraft Heinz by 2,049.0% during the 1st quarter. MCF Advisors LLC now owns 2,235 shares of the company’s stock valued at $82,000 after purchasing an additional 2,131 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction 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 approximately $5,689,662.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.37% of the company’s stock.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $32.00 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09. The company has a market capitalization of $38.86 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. The company’s 50 day moving average price is $35.06 and its two-hundred day moving average price is $35.99. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96.

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

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, June 6th. This represents a $1.60 annualized dividend and a dividend yield of 5.00%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KHC. Piper Sandler cut their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Wells Fargo & Company cut their target price on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, Bank of America increased their price target on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.

About Kraft Heinz

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.