Geneos Wealth Management Inc. Sells 712 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Geneos Wealth Management Inc. trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,680 shares of the company’s stock after selling 712 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Kraft Heinz were worth $579,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Kraft Heinz by 346.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock worth $57,799,000 after buying an additional 1,179,863 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Kraft Heinz by 56.7% during the 1st quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after acquiring an additional 1,027,636 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Kraft Heinz by 165.6% in the fourth quarter. Bank of Nova Scotia now owns 1,039,812 shares of the company’s stock valued at $38,450,000 after purchasing an additional 648,365 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Kraft Heinz in the fourth quarter worth $19,969,000. Finally, Pacer Advisors Inc. boosted its holdings in Kraft Heinz by 405.0% during the fourth quarter. Pacer Advisors Inc. now owns 609,693 shares of the company’s stock worth $22,546,000 after purchasing an additional 488,958 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on KHC. Piper Sandler lowered their price target 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. Bank of America lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company cut their price target on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, June 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.42.

Insider Buying and Selling

In other news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now directly owns 158,266 shares in the company, valued at $5,689,662.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.37% of the stock is owned by insiders.

Kraft Heinz Stock Performance

Kraft Heinz stock traded up $0.26 during trading hours on Thursday, hitting $32.18. The company had a trading volume of 7,458,655 shares, compared to its average volume of 7,931,131. The firm has a 50-day moving average of $34.21 and a 200 day moving average of $35.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. The firm has a market cap of $39.08 billion, a PE ratio of 13.94, a PEG ratio of 2.59 and a beta of 0.53. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same period last year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, sell-side analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 6th were paid a $0.40 dividend. The ex-dividend date was Thursday, June 6th. This represents a $1.60 annualized dividend and a dividend yield of 4.97%. Kraft Heinz’s dividend payout ratio (DPR) is presently 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.