Valley Wealth Managers Inc. Boosts Stake in The Kraft Heinz Company (NASDAQ:KHC)

Valley Wealth Managers Inc. raised its position in The Kraft Heinz Company (NASDAQ:KHC) by 46.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,073 shares of the company’s stock after purchasing an additional 340 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Kraft Heinz were worth $35,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of KHC. Principal Securities Inc. purchased a new stake in shares of Kraft Heinz in the fourth quarter worth about $110,000. QRG Capital Management Inc. grew its stake in Kraft Heinz by 6.5% during the 4th quarter. QRG Capital Management Inc. now owns 28,323 shares of the company’s stock valued at $1,047,000 after purchasing an additional 1,732 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Kraft Heinz by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock worth $113,960,000 after purchasing an additional 474,758 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Kraft Heinz by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 972,792 shares of the company’s stock valued at $35,974,000 after buying an additional 69,696 shares during the last quarter. Finally, Fiera Capital Corp bought a new stake in shares of Kraft Heinz in the 4th quarter worth about $706,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KHC has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler reduced their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Evercore ISI reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company increased their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They set a “sell” rating and a $34.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.50.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now owns 143,970 shares in the company, valued at approximately $5,182,920. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is currently owned by company insiders.

Kraft Heinz Stock Up 1.1 %

Shares of KHC stock opened at $35.59 on Friday. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The stock has a market cap of $43.03 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The stock has a fifty day moving average price of $34.49 and a 200 day moving average price of $35.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. Analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

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.