SteelPeak Wealth LLC Buys 7,572 Shares of The Kraft Heinz Company (NASDAQ:KHC)

SteelPeak Wealth LLC boosted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 15.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,421 shares of the company’s stock after buying an additional 7,572 shares during the quarter. SteelPeak Wealth LLC’s holdings in Kraft Heinz were worth $2,082,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Kraft Heinz by 86.0% during the third quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock valued at $155,671,000 after purchasing an additional 2,140,153 shares in the last quarter. Morgan Stanley lifted its holdings in Kraft Heinz by 7.2% during the third quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock valued at $423,216,000 after purchasing an additional 850,326 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Kraft Heinz by 1,410.0% during the third quarter. Lazard Asset Management LLC now owns 758,310 shares of the company’s stock valued at $25,508,000 after purchasing an additional 708,092 shares in the last quarter. Bank of Nova Scotia lifted its holdings in Kraft Heinz by 165.6% during the fourth quarter. Bank of Nova Scotia now owns 1,039,812 shares of the company’s stock valued at $38,450,000 after purchasing an additional 648,365 shares in the last quarter. Finally, Scopus Asset Management L.P. purchased a new position in Kraft Heinz during the third quarter valued at approximately $20,184,000. 78.17% of the stock is currently owned by institutional investors.

Insider Transactions at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the company’s 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 transaction, the insider now directly owns 158,266 shares in the company, valued at $5,689,662.70. 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.

Analyst Upgrades and Downgrades

KHC has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Bank of America boosted their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Wells Fargo & Company lowered their target price on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Piper Sandler lowered their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.75.

Kraft Heinz Trading Down 0.2 %

KHC stock opened at $32.22 on Monday. 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 twelve month low of $30.68 and a twelve month high of $38.96. The stock has a market capitalization of $39.12 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. The firm’s fifty day simple moving average is $35.19 and its two-hundred day simple moving average is $36.03.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data 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. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter in the previous year, the business posted $0.68 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. As a group, analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend was Thursday, June 6th. Kraft Heinz’s payout ratio is presently 69.87%.

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.