Larson Financial Group LLC Increases Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Larson Financial Group LLC grew its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 191.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 969 shares of the company’s stock after buying an additional 636 shares during the quarter. Larson Financial Group LLC’s holdings in Kraft Heinz were worth $34,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC boosted its holdings in Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Kraft Heinz during the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. raised its stake in Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares in the last quarter. Bangor Savings Bank purchased a new stake in Kraft Heinz in the third quarter worth about $32,000. Finally, Capital Performance Advisors LLP bought a new stake in Kraft Heinz during the 3rd quarter valued at approximately $33,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the sale, the executive vice president now owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Mizuho lowered their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and set a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Citigroup cut their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.55.

Kraft Heinz Stock Up 0.1 %

Kraft Heinz stock opened at $31.97 on Friday. The Kraft Heinz Company has a 12 month low of $30.40 and a 12 month high of $38.96. The stock has a fifty day simple moving average of $33.77 and a two-hundred day simple moving average of $34.11. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The firm has a market cap of $38.66 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 3.65 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 5.00%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

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.