Newbridge Financial Services Group Inc. Cuts Stake in The Kraft Heinz Company (NASDAQ:KHC)

Newbridge Financial Services Group Inc. reduced its position in The Kraft Heinz Company (NASDAQ:KHC) by 38.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,661 shares of the company’s stock after selling 2,869 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Kraft Heinz were worth $172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KHC. Steward Partners Investment Solutions LLC acquired a new position in shares of Kraft Heinz in the 4th quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Kraft Heinz in the 4th quarter valued at $32,000. BKM Wealth Management LLC acquired a new position in shares of Kraft Heinz in the 4th quarter valued at $33,000. Transcendent Capital Group LLC acquired a new position in shares of Kraft Heinz in the 4th quarter valued at $38,000. Finally, Headinvest LLC acquired a new position in shares of Kraft Heinz in the 3rd quarter valued at $38,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Piper Sandler raised Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 target price on the stock in a research report on Wednesday, May 22nd. Finally, Bank of America upped their target price on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.08.

Kraft Heinz Trading Down 0.8 %

KHC stock opened at $32.67 on Wednesday. The company’s 50-day simple moving average is $35.84 and its 200-day simple moving average is $36.23. 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 Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The firm has a market cap of $39.67 billion, a P/E ratio of 14.27, a PEG ratio of 2.65 and a beta of 0.57.

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

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now owns 158,266 shares in the company, valued at approximately $5,689,662.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by insiders.

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.