The Kraft Heinz Company (NASDAQ:KHC) Holdings Raised by Ignite Planners LLC

Ignite Planners LLC grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.8% during the 4th quarter, HoldingsChannel reports. The fund owned 18,411 shares of the company’s stock after acquiring an additional 847 shares during the period. Ignite Planners LLC’s holdings in Kraft Heinz were worth $564,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC grew its position in Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Kraft Heinz in the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. boosted its holdings in Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares in the last quarter. Bangor Savings Bank acquired a new position in Kraft Heinz during the third quarter worth $32,000. Finally, Capital Performance Advisors LLP bought a new position in Kraft Heinz during the third quarter valued at about $33,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $28.78 on Tuesday. The firm’s 50-day moving average is $31.14 and its 200-day moving average is $33.31. The company has a market cap of $34.80 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The Kraft Heinz Company has a 52-week low of $28.48 and a 52-week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a $0.40 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.56%. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Insiders Place Their Bets

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KHC. Barclays lowered their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Citigroup dropped their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Evercore ISI reiterated an “in-line” rating and issued a $35.00 target price (down previously from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Finally, TD Cowen decreased their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.58.

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.