Ignite Planners LLC Acquires 535 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Ignite Planners LLC boosted its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,983 shares of the company’s stock after purchasing an additional 535 shares during the quarter. Ignite Planners LLC’s holdings in Kraft Heinz were worth $513,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in Kraft Heinz by 3,383.4% during the 4th quarter. International Assets Investment Management LLC now owns 393,727 shares of the company’s stock valued at $14,560,000 after buying an additional 382,424 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Kraft Heinz by 16.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 150,764 shares of the company’s stock worth $5,575,000 after purchasing an additional 21,600 shares during the last quarter. Bleakley Financial Group LLC raised its stake in Kraft Heinz by 9.5% during the fourth quarter. Bleakley Financial Group LLC now owns 12,425 shares of the company’s stock valued at $459,000 after purchasing an additional 1,074 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Kraft Heinz during the fourth quarter valued at $32,000. Finally, Cerity Partners LLC grew its stake in shares of Kraft Heinz by 42.5% in the 4th quarter. Cerity Partners LLC now owns 457,923 shares of the company’s stock worth $16,934,000 after buying an additional 136,556 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

KHC has been the topic of several recent research reports. Piper Sandler decreased their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. JPMorgan Chase & Co. decreased their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Evercore ISI dropped their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company increased their price target on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.58.

Kraft Heinz Trading Up 0.2 %

KHC stock traded up $0.06 during trading on Friday, hitting $35.27. The company had a trading volume of 5,109,486 shares, compared to its average volume of 8,062,780. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a 50 day simple moving average of $33.33 and a 200-day simple moving average of $35.22. The firm has a market capitalization of $42.83 billion, a P/E ratio of 15.40, a PEG ratio of 3.52 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. As a group, research analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio is 69.87%.

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.