Sound Income Strategies LLC Raises Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Sound Income Strategies LLC boosted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 21,268.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,405 shares of the company’s stock after buying an additional 108,893 shares during the period. Sound Income Strategies LLC’s holdings in Kraft Heinz were worth $4,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of KHC. FSC Wealth Advisors LLC raised its holdings in shares of Kraft Heinz by 23.4% during the fourth quarter. FSC Wealth Advisors LLC now owns 1,424 shares of the company’s stock worth $53,000 after purchasing an additional 270 shares during the last quarter. Welch Group LLC lifted its holdings in shares of Kraft Heinz by 1.9% in the 1st quarter. Welch Group LLC now owns 14,868 shares of the company’s stock valued at $549,000 after buying an additional 272 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Kraft Heinz by 13.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock worth $89,000 after buying an additional 282 shares during the last quarter. Archer Investment Corp grew its holdings in Kraft Heinz by 2.0% during the fourth quarter. Archer Investment Corp now owns 14,709 shares of the company’s stock worth $544,000 after acquiring an additional 294 shares during the period. Finally, Ingalls & Snyder LLC raised its position in Kraft Heinz by 3.1% during the fourth quarter. Ingalls & Snyder LLC now owns 10,005 shares of the company’s stock valued at $370,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KHC shares. Bank of America lifted their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Piper Sandler dropped their target price 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. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Kraft Heinz Price Performance

KHC stock traded down $0.48 during midday trading on Wednesday, reaching $32.32. The stock had a trading volume of 7,681,021 shares, compared to its average volume of 8,040,649. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a market cap of $39.25 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 2.65 and a beta of 0.57. The company’s fifty day simple moving average is $35.49 and its 200 day simple moving average is $36.12. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter in the prior year, the company earned $0.68 EPS. Kraft Heinz’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s payout ratio is currently 69.87%.

Insiders Place Their Bets

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the transaction, the insider now directly owns 158,266 shares in the company, valued at approximately $5,689,662.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

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.