Secure Asset Management LLC Grows Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Secure Asset Management LLC increased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,045 shares of the company’s stock after purchasing an additional 6,221 shares during the period. Secure Asset Management LLC’s holdings in Kraft Heinz were worth $1,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its holdings in Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Kraft Heinz during the 3rd quarter worth about $27,000. Sawyer & Company Inc acquired a new stake in Kraft Heinz in the fourth quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. boosted its stake in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after buying an additional 797 shares in the last quarter. Finally, Bangor Savings Bank bought a new stake in shares of Kraft Heinz in the 3rd quarter worth approximately $32,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KHC has been the topic of several recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. The Goldman Sachs Group dropped their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and cut their price objective for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. TD Cowen lowered their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Citigroup cut their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and a consensus price target of $35.23.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $29.07 on Friday. The business’s 50 day moving average is $30.62 and its 200-day moving average is $33.16. 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 firm has a market capitalization of $35.15 billion, a PE ratio of 26.19, a PEG ratio of 3.50 and a beta of 0.48. The Kraft Heinz Company has a 1-year low of $28.37 and a 1-year high of $38.96.

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

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend was Friday, November 29th. Kraft Heinz’s dividend payout ratio is 144.14%.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by corporate insiders.

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.