SeaCrest Wealth Management LLC Cuts Position in The Kraft Heinz Company (NASDAQ:KHC)

SeaCrest Wealth Management LLC lessened its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 22.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,284 shares of the company’s stock after selling 2,083 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Kraft Heinz were worth $269,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of KHC. Morgan Stanley boosted its holdings in Kraft Heinz by 7.2% in the third quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock valued at $423,216,000 after purchasing an additional 850,326 shares during the last quarter. Bank of Nova Scotia grew its holdings in Kraft Heinz by 165.6% during the fourth quarter. Bank of Nova Scotia now owns 1,039,812 shares of the company’s stock worth $38,450,000 after acquiring an additional 648,365 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Kraft Heinz during the fourth quarter valued at approximately $19,969,000. Pacer Advisors Inc. lifted its holdings in Kraft Heinz by 405.0% in the fourth quarter. Pacer Advisors Inc. now owns 609,693 shares of the company’s stock valued at $22,546,000 after acquiring an additional 488,958 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Kraft Heinz by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock worth $113,960,000 after purchasing an additional 474,758 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on KHC shares. Bank of America lifted their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Wells Fargo & Company cut their price target on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, June 27th. Finally, Piper Sandler dropped their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.75.

Kraft Heinz Trading Up 0.3 %

Shares of KHC stock opened at $32.09 on Thursday. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The firm has a market capitalization of $38.97 billion, a P/E ratio of 14.01, a PEG ratio of 2.58 and a beta of 0.53. The stock’s fifty day moving average is $34.94 and its two-hundred day moving average is $35.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09.

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

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were given 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 4.99%. Kraft Heinz’s payout ratio is 69.87%.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the transaction, the insider now directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is currently owned by insiders.

Kraft Heinz 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.