Thrive Wealth Management LLC Lowers Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Thrive Wealth Management LLC lowered its stake in The Kraft Heinz Company (NASDAQ:KHC) by 11.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,567 shares of the company’s stock after selling 1,436 shares during the period. Thrive Wealth Management LLC’s holdings in Kraft Heinz were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janiczek Wealth Management LLC boosted its stake in Kraft Heinz by 409.4% in 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 in the last quarter. Brookstone Capital Management grew its holdings in shares of Kraft Heinz by 166.7% during the first quarter. Brookstone Capital Management now owns 72,083 shares of the company’s stock valued at $2,660,000 after buying an additional 45,058 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of Kraft Heinz by 21,268.2% during the first quarter. Sound Income Strategies LLC now owns 109,405 shares of the company’s stock valued at $4,037,000 after acquiring an additional 108,893 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. raised its holdings in Kraft Heinz by 78.3% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 80,648 shares of the company’s stock worth $2,969,000 after acquiring an additional 35,426 shares during the last quarter. Finally, Beech Hill Advisors Inc. lifted its position in Kraft Heinz by 4.9% in the 1st quarter. Beech Hill Advisors Inc. now owns 77,590 shares of the company’s stock valued at $2,863,000 after acquiring an additional 3,602 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Insider Activity at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the sale, the insider now directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KHC has been the subject of several recent analyst reports. Bank of America boosted their price target on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Wells Fargo & Company dropped their price target on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday. Piper Sandler decreased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.75.

Kraft Heinz Price Performance

NASDAQ:KHC traded down $0.05 during trading hours on Thursday, hitting $32.27. 5,679,488 shares of the stock traded hands, compared to its average volume of 8,021,499. The company has a market cap of $39.19 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 2.65 and a beta of 0.57. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $38.96. The stock has a 50 day moving average price of $35.39 and a 200 day moving average price of $36.10. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter in the previous year, the company earned $0.68 EPS. Kraft Heinz’s revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

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.