KMG Fiduciary Partners LLC Invests $1.62 Million in The Kraft Heinz Company (NASDAQ:KHC)

KMG Fiduciary Partners LLC bought a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) during the 4th quarter, HoldingsChannel reports. The firm bought 52,743 shares of the company’s stock, valued at approximately $1,620,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KHC. State Street Corp grew its position in Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after acquiring an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in Kraft Heinz during the 3rd quarter valued at $411,304,000. Legal & General Group Plc increased its stake in Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after buying an additional 799,581 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after buying an additional 1,238,200 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

Shares of KHC opened at $29.27 on Friday. The firm has a market cap of $35.39 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 3.29 and a beta of 0.48. The stock has a 50 day moving average of $30.87 and a 200-day moving average of $33.22. 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 Kraft Heinz Company has a 52 week low of $28.37 and a 52 week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. As a group, analysts forecast that The Kraft Heinz Company will post 3 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 5.47%. Kraft Heinz’s dividend payout ratio is currently 144.14%.

Insider Activity at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KHC shares. Wells Fargo & Company dropped their target price on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Barclays lowered their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Mizuho lowered their price objective 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. Piper Sandler restated a “neutral” rating and set a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group lowered their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Kraft Heinz currently has an average rating of “Hold” and an average target price of $35.23.

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.