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

Sound Income Strategies LLC lifted its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 21,268.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of KHC. TCW Group Inc. bought a new stake in Kraft Heinz in the 4th quarter valued at about $1,098,000. Shell Asset Management Co. boosted its holdings in Kraft Heinz by 251.3% in the 4th quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after buying an additional 24,199 shares during the period. Tower Research Capital LLC TRC grew its stake in Kraft Heinz by 120.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock valued at $5,079,000 after buying an additional 75,149 shares in the last quarter. Bridgewater Associates LP lifted its position in shares of Kraft Heinz by 7.7% during the fourth quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock worth $61,450,000 after acquiring an additional 118,260 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in shares of Kraft Heinz by 11.0% in the fourth quarter. Raymond James Trust N.A. now owns 39,610 shares of the company’s stock worth $1,465,000 after acquiring an additional 3,916 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Down 1.5 %

Shares of KHC traded down $0.48 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 firm has a market capitalization 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 has a 50-day simple moving average of $35.49 and a 200-day simple moving average of $36.12. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Kraft Heinz’s quarterly revenue was down 1.2% on a year-over-year basis. Sell-side analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.95%. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

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 owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KHC shares. Deutsche Bank Aktiengesellschaft upped their price target on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Bank of America raised their price target 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. Finally, Piper Sandler decreased their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $40.00.

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.