Legacy Wealth Asset Management LLC Sells 417 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Legacy Wealth Asset Management LLC lowered its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,660 shares of the company’s stock after selling 417 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Kraft Heinz were worth $604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of KHC. American Century Companies Inc. lifted its position in shares of Kraft Heinz by 408.9% in the second quarter. American Century Companies Inc. now owns 586,370 shares of the company’s stock worth $18,893,000 after buying an additional 471,146 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Kraft Heinz by 47.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after purchasing an additional 1,778,263 shares during the last quarter. Argent Trust Co bought a new stake in Kraft Heinz during the second quarter worth approximately $353,000. Mercer Global Advisors Inc. ADV grew its holdings in Kraft Heinz by 6.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 59,555 shares of the company’s stock valued at $1,919,000 after purchasing an additional 3,583 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Kraft Heinz by 90.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,225 shares of the company’s stock valued at $1,135,000 after purchasing an additional 16,772 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KHC. Wells Fargo & Company decreased their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Citigroup lowered their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Evercore ISI reissued an “in-line” rating and set a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Mizuho lowered their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Piper Sandler reiterated a “neutral” rating and set a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.23.

Insider Transactions at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

Kraft Heinz Trading Up 1.0 %

Shares of KHC stock opened at $29.27 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The firm has a fifty day moving average of $30.87 and a 200-day moving average of $33.22. The Kraft Heinz Company has a 52-week low of $28.37 and a 52-week high of $38.96. The stock has a market cap of $35.39 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 3.29 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS 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 firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter last year, the company earned $0.72 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts forecast that The Kraft Heinz Company will post 3 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

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

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.