Apollon Wealth Management LLC Has $732,000 Stake in The Kraft Heinz Company (NASDAQ:KHC)

Apollon Wealth Management LLC cut its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 14.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,857 shares of the company’s stock after selling 3,560 shares during the quarter. Apollon Wealth Management LLC’s holdings in Kraft Heinz were worth $732,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC raised its holdings in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares in the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Kraft Heinz in the 1st quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Kraft Heinz in the third quarter valued at $27,000. DiNuzzo Private Wealth Inc. increased its holdings in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares during the last quarter. Finally, Asset Dedication LLC raised its position in Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Barclays dropped their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Piper Sandler reduced their target price on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Mizuho cut their price target on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Evercore ISI decreased their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and an average target price of $37.00.

Insider Activity at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by insiders.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock opened at $31.14 on Friday. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $37.65 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 3.67 and a beta of 0.49. The Kraft Heinz Company has a twelve month low of $30.40 and a twelve month high of $38.96. The company has a 50-day simple moving average of $34.62 and a two-hundred day simple moving average of $34.52.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. Analysts forecast 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 will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend is 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.