Beam Wealth Advisors Inc. Takes $401,000 Position in The Kraft Heinz Company (NASDAQ:KHC)

Beam Wealth Advisors Inc. acquired a new position in The Kraft Heinz Company (NASDAQ:KHC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,456 shares of the company’s stock, valued at approximately $401,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KHC. Principal Securities Inc. bought a new stake in shares of Kraft Heinz in the fourth quarter valued at approximately $110,000. Johnson Investment Counsel Inc. lifted its position in shares of Kraft Heinz by 2.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 14,663 shares of the company’s stock worth $542,000 after acquiring an additional 307 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Kraft Heinz by 6.5% in the fourth quarter. QRG Capital Management Inc. now owns 28,323 shares of the company’s stock worth $1,047,000 after acquiring an additional 1,732 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Kraft Heinz by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock worth $113,960,000 after acquiring an additional 474,758 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Kraft Heinz by 10.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 78,779 shares of the company’s stock valued at $2,913,000 after purchasing an additional 7,182 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KHC has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut their target price 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. Wells Fargo & Company raised 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 report on Thursday, August 1st. JPMorgan Chase & Co. decreased their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price target for the company. Finally, Piper Sandler lowered their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and an average target price of $37.31.

Kraft Heinz Price Performance

KHC opened at $36.05 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $38.96. The stock’s 50 day simple moving average is $34.22 and its 200 day simple moving average is $35.06. The firm has a market cap of $43.59 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 3.49 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its 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. The company had revenue of $6.50 billion for 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 revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. As a group, analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current 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. This represents a $1.60 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was 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 of the company’s stock, valued at $5,182,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.32% of the company’s stock.

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.