Ignite Planners LLC Increases Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Ignite Planners LLC lifted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 15,983 shares of the company’s stock after buying an additional 535 shares during the quarter. Ignite Planners LLC’s holdings in Kraft Heinz were worth $513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Steward Partners Investment Solutions LLC acquired a new position in Kraft Heinz during the 4th quarter worth approximately $25,000. New Covenant Trust Company N.A. purchased a new position in Kraft Heinz in the first quarter worth $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Kraft Heinz in the fourth quarter valued at $32,000. Transcendent Capital Group LLC purchased a new stake in shares of Kraft Heinz during the 4th quarter worth $38,000. Finally, Janiczek Wealth Management LLC grew its stake in shares of Kraft Heinz by 409.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 1,187 shares of the company’s stock worth $44,000 after purchasing an additional 954 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Up 0.2 %

NASDAQ:KHC traded up $0.06 on Friday, reaching $35.27. The stock had a trading volume of 5,109,486 shares, compared to its average volume of 8,062,780. 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 cap of $42.83 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 3.52 and a beta of 0.53. The firm’s fifty day moving average is $33.33 and its two-hundred day moving average is $35.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.61.

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

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.54%. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Bank of America reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Piper Sandler decreased their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Citigroup decreased their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Barclays raised their price target 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. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average price target of $37.58.

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.