RK Asset Management LLC Reduces Position in The Kraft Heinz Company (NASDAQ:KHC)

RK Asset Management LLC lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 208,800 shares of the company’s stock after selling 5,247 shares during the period. Kraft Heinz makes up approximately 5.2% of RK Asset Management LLC’s holdings, making the stock its 7th largest position. RK Asset Management LLC’s holdings in Kraft Heinz were worth $6,412,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of KHC. MADDEN SECURITIES Corp increased its position in shares of Kraft Heinz by 2.4% during the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after purchasing an additional 303 shares during the period. Axiom Advisory LLC raised its stake in shares of Kraft Heinz by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock valued at $227,000 after buying an additional 327 shares in the last quarter. Norden Group LLC lifted its holdings in shares of Kraft Heinz by 3.8% during the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after acquiring an additional 339 shares during the period. Valley Wealth Managers Inc. boosted its position in shares of Kraft Heinz by 46.4% during the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Finally, Trust Co. of Vermont increased its stake in Kraft Heinz by 3.6% in the third quarter. Trust Co. of Vermont now owns 10,388 shares of the company’s stock valued at $365,000 after acquiring an additional 358 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC traded down $0.16 during trading hours on Friday, reaching $30.61. 7,839,048 shares of the stock were exchanged, compared to its average volume of 6,949,074. The stock’s fifty day simple moving average is $31.77 and its 200 day simple moving average is $33.46. The firm has a market capitalization of $37.01 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 3.62 and a beta of 0.48. The Kraft Heinz Company has a 52 week low of $30.01 and a 52 week high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the prior year, the firm posted $0.72 EPS. Kraft Heinz’s quarterly revenue was down 2.8% on a year-over-year basis. Sell-side analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.23%. The ex-dividend date was Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on KHC. Barclays decreased their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Piper Sandler reissued a “neutral” rating and set a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Citigroup decreased their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Kraft Heinz has a consensus rating of “Hold” and an average price target of $36.55.

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.