Allworth Financial LP Has $660,000 Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Allworth Financial LP boosted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 67.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,719 shares of the company’s stock after buying an additional 9,139 shares during the period. Allworth Financial LP’s holdings in Kraft Heinz were worth $660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sawyer & Company Inc bought a new stake in shares of Kraft Heinz in the 4th quarter valued at approximately $25,000. Fortitude Family Office LLC grew its stake in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Kraft Heinz in the 3rd quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new stake in shares of Kraft Heinz in the 3rd quarter valued at approximately $33,000. Finally, Larson Financial Group LLC grew its stake in shares of Kraft Heinz by 191.0% in the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after buying an additional 636 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Evercore ISI restated an “in-line” rating and issued a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their target price on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Piper Sandler reduced their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Finally, Wells Fargo & Company cut their price target on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.86.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $30.16 on Friday. The business’s 50-day simple moving average is $29.74 and its 200 day simple moving average is $32.59. The stock has a market cap of $36.03 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 3.29 and a beta of 0.47. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. As a group, research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s payout ratio is 70.80%.

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.