Independent Advisor Alliance Sells 15,524 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Independent Advisor Alliance reduced its holdings in The Kraft Heinz Company (NASDAQ:KHCFree Report) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,042 shares of the company’s stock after selling 15,524 shares during the quarter. Independent Advisor Alliance’s holdings in Kraft Heinz were worth $1,481,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in KHC. Raymond James Trust N.A. boosted its position in shares of Kraft Heinz by 11.0% during the fourth quarter. Raymond James Trust N.A. now owns 39,610 shares of the company’s stock valued at $1,465,000 after buying an additional 3,916 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its position in shares of Kraft Heinz by 6.6% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 13,857 shares of the company’s stock valued at $512,000 after buying an additional 864 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in Kraft Heinz in the third quarter worth $5,399,000. Victory Capital Management Inc. boosted its position in Kraft Heinz by 16.3% in the third quarter. Victory Capital Management Inc. now owns 1,768,073 shares of the company’s stock worth $59,478,000 after purchasing an additional 247,896 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in Kraft Heinz by 42.5% in the fourth quarter. Cerity Partners LLC now owns 457,923 shares of the company’s stock worth $16,934,000 after purchasing an additional 136,556 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the completion of the sale, the insider now directly owns 158,266 shares in the company, valued at approximately $5,689,662.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $36.00 on Monday. The firm has a market capitalization of $43.71 billion, a P/E ratio of 15.72, a P/E/G ratio of 2.89 and a beta of 0.65. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. The stock’s 50-day simple moving average is $36.50 and its two-hundred day simple moving average is $36.12. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $39.34.

Kraft Heinz (NASDAQ:KHCGet Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. As a group, equities analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.60 annualized dividend and a dividend yield of 4.44%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Analysts Set New Price Targets

Several research firms have weighed in on KHC. Deutsche Bank Aktiengesellschaft boosted their price objective on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Bank of America boosted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Citigroup assumed coverage on Kraft Heinz in a research report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price target on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.50.

Check Out Our Latest Stock Report on Kraft Heinz

About Kraft Heinz

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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