AE Wealth Management LLC Acquires 20,365 Shares of The Kraft Heinz Company (NASDAQ:KHC)

AE Wealth Management LLC increased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 29.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 90,265 shares of the company’s stock after acquiring an additional 20,365 shares during the quarter. AE Wealth Management LLC’s holdings in Kraft Heinz were worth $2,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Kraft Heinz during the 4th quarter valued at $13,417,000. TCW Group Inc. purchased a new position in shares of Kraft Heinz in the fourth quarter worth $1,098,000. Orion Portfolio Solutions LLC boosted its position in shares of Kraft Heinz by 0.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 112,408 shares of the company’s stock worth $4,300,000 after acquiring an additional 546 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Kraft Heinz by 6.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 282,819 shares of the company’s stock valued at $10,459,000 after acquiring an additional 17,908 shares during the last quarter. Finally, United Services Automobile Association lifted its stake in Kraft Heinz by 28.2% in the 4th quarter. United Services Automobile Association now owns 24,581 shares of the company’s stock worth $909,000 after purchasing an additional 5,404 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on KHC shares. Barclays raised their price objective on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reduced their price target 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. Finally, Bank of America decreased their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz has a consensus rating of “Hold” and an average price target of $37.45.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Down 0.1 %

Shares of KHC opened at $34.96 on Monday. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The company’s fifty day simple moving average is $34.80 and its 200-day simple moving average is $35.04. The company has a market cap of $42.45 billion, a P/E ratio of 15.27, a P/E/G ratio of 3.43 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 earnings per share. As a group, analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.58%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

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.