Secure Asset Management LLC Has $1.63 Million Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Secure Asset Management LLC grew its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,045 shares of the company’s stock after purchasing an additional 6,221 shares during the period. Secure Asset Management LLC’s holdings in Kraft Heinz were worth $1,629,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KHC. State Street Corp increased its holdings in shares of Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after acquiring an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Kraft Heinz in the third quarter valued at about $411,304,000. Legal & General Group Plc lifted its stake in shares of Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after buying an additional 799,581 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after buying an additional 1,238,200 shares during the period. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $29.07 on Friday. The Kraft Heinz Company has a 1 year low of $28.37 and a 1 year high of $38.96. The firm has a market capitalization of $35.15 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 3.50 and a beta of 0.48. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The firm’s 50 day simple moving average is $30.62 and its 200 day simple moving average is $33.16.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company posted $0.72 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, research analysts expect that The Kraft Heinz Company will post 3 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

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 5.50%. The ex-dividend date of this dividend was Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Insiders Place Their Bets

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. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

KHC has been the topic of several research analyst reports. Citigroup cut their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and set a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Evercore ISI reissued an “in-line” rating and issued a $35.00 target price (down previously from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Finally, Barclays lowered their price target on shares of 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and a consensus price target of $35.23.

Kraft Heinz 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.