Thrive Wealth Management LLC Invests $355,000 in The Kraft Heinz Company (NASDAQ:KHC)

Thrive Wealth Management LLC acquired a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,112 shares of the company’s stock, valued at approximately $355,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Kraft Heinz by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock valued at $2,603,349,000 after acquiring an additional 183,234 shares during the period. LSV Asset Management increased its holdings in shares of Kraft Heinz by 2.1% in the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock valued at $293,450,000 after acquiring an additional 189,000 shares during the period. Legal & General Group Plc increased its holdings in shares of Kraft Heinz by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after acquiring an additional 799,581 shares during the period. Capital World Investors increased its holdings in shares of Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after acquiring an additional 3,961,872 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Kraft Heinz by 47.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after acquiring an additional 1,778,263 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on KHC. Citigroup cut their target price on shares of 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 dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Piper Sandler dropped their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.45.

Kraft Heinz Price Performance

Shares of NASDAQ KHC traded up $0.42 during trading on Friday, hitting $34.59. 4,808,490 shares of the company were exchanged, compared to its average volume of 7,901,155. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The firm’s fifty day moving average price is $35.12 and its 200 day moving average price is $35.04. The company has a market cap of $42.00 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 3.39 and a beta of 0.49.

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

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.40 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.63%. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insider Buying and Selling

In related news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

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.