Thrive Wealth Management LLC Takes $355,000 Position in The Kraft Heinz Company (NASDAQ:KHC)

Thrive Wealth Management LLC bought a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 10,112 shares of the company’s stock, valued at approximately $355,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Welch Group LLC increased its position in Kraft Heinz by 1.9% during the 1st quarter. Welch Group LLC now owns 14,868 shares of the company’s stock worth $549,000 after purchasing an additional 272 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Kraft Heinz by 13.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock valued at $89,000 after purchasing an additional 282 shares during the period. Integrated Advisors Network LLC raised its stake in shares of Kraft Heinz by 2.4% during the fourth quarter. Integrated Advisors Network LLC now owns 12,881 shares of the company’s stock valued at $476,000 after purchasing an additional 301 shares during the period. HB Wealth Management LLC raised its stake in shares of Kraft Heinz by 2.5% during the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after purchasing an additional 314 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. raised its stake in shares of Kraft Heinz by 0.3% during the first quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock valued at $4,044,000 after purchasing an additional 335 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Activity

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction that occurred 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 transaction, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by company insiders.

Kraft Heinz Price Performance

Kraft Heinz stock traded up $0.42 during midday trading on Friday, hitting $34.59. The company’s stock had a trading volume of 4,808,490 shares, compared to its average volume of 7,901,155. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The stock’s 50-day moving average price is $35.12 and its 200-day moving average price is $35.04. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The company has a market capitalization of $42.00 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49.

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

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.63%. The ex-dividend date was Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group assumed coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. Evercore ISI reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Piper Sandler reduced their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.45.

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.