KMG Fiduciary Partners LLC Makes New Investment in The Kraft Heinz Company (NASDAQ:KHC)

KMG Fiduciary Partners LLC acquired a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 52,743 shares of the company’s stock, valued at approximately $1,620,000.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after buying an additional 1,944,019 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Kraft Heinz during the third quarter worth about $411,304,000. Legal & General Group Plc boosted its stake in shares of Kraft Heinz by 9.7% during the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after buying an additional 799,581 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after buying an additional 1,238,200 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Up 1.0 %

Shares of KHC opened at $29.27 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The firm has a 50 day simple moving average of $30.87 and a 200-day simple moving average of $33.22. The Kraft Heinz Company has a 1-year low of $28.37 and a 1-year high of $38.96. The stock has a market cap of $35.39 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 3.29 and a beta of 0.48.

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

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.47%. Kraft Heinz’s payout ratio is currently 144.14%.

Insiders Place Their Bets

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KHC. Wells Fargo & Company decreased their target price on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Piper Sandler restated a “neutral” rating and issued a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Citigroup reduced their price objective 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. TD Cowen reduced their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Mizuho reduced their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.23.

Kraft Heinz Company 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.