AE Wealth Management LLC Acquires 20,365 Shares of The Kraft Heinz Company (NASDAQ:KHC)

AE Wealth Management LLC raised its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 29.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,265 shares of the company’s stock after buying an additional 20,365 shares during the quarter. AE Wealth Management LLC’s holdings in Kraft Heinz were worth $2,908,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Solutions LLC bought a new stake in Kraft Heinz in the fourth quarter valued at $25,000. New Covenant Trust Company N.A. bought a new stake in shares of Kraft Heinz during the 1st quarter valued at about $27,000. Asset Dedication LLC boosted its stake in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Kraft Heinz during the second quarter valued at about $34,000. Finally, Valley Wealth Managers Inc. lifted its holdings in Kraft Heinz by 46.4% in the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after buying an additional 340 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on KHC shares. Citigroup reduced their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Bank of America decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Wells Fargo & Company boosted their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Barclays increased their price target on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, Piper Sandler cut their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus target price of $37.45.

Kraft Heinz Stock Down 0.1 %

Shares of Kraft Heinz stock opened at $34.96 on Monday. The company has a 50-day simple moving average of $34.80 and a two-hundred day simple moving average of $35.04. The stock has a market capitalization of $42.45 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the business earned $0.79 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.58%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Insider Buying and Selling

In other news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.

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.