SVB Wealth LLC Has $1.90 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

SVB Wealth LLC trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,378 shares of the company’s stock after selling 995 shares during the quarter. SVB Wealth LLC’s holdings in Kraft Heinz were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Raymond James & Associates lifted its stake in Kraft Heinz by 4.8% in the fourth quarter. Raymond James & Associates now owns 957,915 shares of the company’s stock valued at $35,424,000 after purchasing an additional 44,037 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in Kraft Heinz in the 4th quarter worth approximately $63,000. Blue Trust Inc. increased its holdings in Kraft Heinz by 15.8% during the 4th quarter. Blue Trust Inc. now owns 7,847 shares of the company’s stock valued at $264,000 after purchasing an additional 1,068 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Kraft Heinz by 20.5% during the 4th quarter. Global Retirement Partners LLC now owns 6,250 shares of the company’s stock worth $235,000 after acquiring an additional 1,065 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd increased its position in Kraft Heinz by 8.9% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 11,904 shares of the company’s stock valued at $440,000 after buying an additional 975 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Price Performance

KHC traded up $0.23 during trading on Tuesday, hitting $33.65. 1,159,110 shares of the company traded hands, compared to its average volume of 7,836,064. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The company has a market cap of $40.86 billion, a PE ratio of 14.59, a P/E/G ratio of 3.35 and a beta of 0.53. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $38.96. The stock’s 50-day simple moving average is $33.41 and its two-hundred day simple moving average is $35.35.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The firm had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the prior year, the company earned $0.68 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 2.99 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 6th were given a $0.40 dividend. The ex-dividend date was Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.75%. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Analysts Set New Price Targets

Several equities research analysts recently commented on KHC shares. Barclays dropped their price objective on Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased 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. Wells Fargo & Company cut their target price on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, June 27th. Piper Sandler dropped their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Finally, Citigroup reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.83.

Insider Buying and Selling

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

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.