The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Sigma Planning Corp

Sigma Planning Corp trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 60.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,481 shares of the company’s stock after selling 20,320 shares during the period. Sigma Planning Corp’s holdings in Kraft Heinz were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in KHC. OFI Invest Asset Management acquired a new position in shares of Kraft Heinz in the third quarter worth $26,000. Turtle Creek Wealth Advisors LLC acquired a new position in Kraft Heinz in the 4th quarter valued at about $32,000. BKM Wealth Management LLC purchased a new position in Kraft Heinz in the 4th quarter valued at about $33,000. Headinvest LLC acquired a new stake in shares of Kraft Heinz during the 3rd quarter worth about $38,000. Finally, VisionPoint Advisory Group LLC grew its holdings in shares of Kraft Heinz by 326.1% during the third quarter. VisionPoint Advisory Group LLC now owns 1,223 shares of the company’s stock worth $41,000 after buying an additional 936 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Citigroup began coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Bank of America lifted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company reduced their target price on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz presently has an average rating of “Hold” and an average target price of $40.57.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $38.37 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.99 and a quick ratio of 0.54. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $41.47. The firm has a market capitalization of $46.64 billion, a P/E ratio of 16.61, a P/E/G ratio of 3.04 and a beta of 0.67. The business’s 50-day simple moving average is $36.14 and its 200-day simple moving average is $35.55.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.99 billion. During the same period in the previous year, the company posted $0.85 earnings per share. Kraft Heinz’s revenue was down 7.1% compared to the same quarter last year. Equities analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.17%. Kraft Heinz’s dividend payout ratio is currently 69.26%.

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.