12,758 Shares in Kraft Heinz Company $KHC Purchased by Modern Wealth Management LLC

Key Points

• Modern Wealth Management LLC has purchased 12,758 shares of Kraft Heinz Company valued at approximately $388,000 in the first quarter, highlighting recent institutional interest in the stock.
• Wall Street analysts have set target prices for Kraft Heinz ranging from $25.00 to $29.00, with most analysts rating the stock as 'neutral' or 'hold'.
• Kraft Heinz recently declared a quarterly dividend of $0.40, representing a stable annual yield of 6.1%, with an expected payout ratio that indicates financial adjustments.

Modern Wealth Management LLC purchased a new position in Kraft Heinz Company (NASDAQ:KHC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,758 shares of the company's stock, valued at approximately $388,000.

Other large investors also recently bought and sold shares of the company. Rossby Financial LCC acquired a new position in Kraft Heinz in the 1st quarter worth about $29,000. Wayfinding Financial LLC acquired a new position in Kraft Heinz in the 1st quarter worth about $33,000. Investment Management Corp VA ADV raised its holdings in Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock worth $35,000 after purchasing an additional 669 shares during the period. Pinney & Scofield Inc. acquired a new position in Kraft Heinz in the 4th quarter worth about $38,000. Finally, Abound Wealth Management raised its holdings in Kraft Heinz by 1,157.0% in the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company's stock worth $38,000 after purchasing an additional 1,157 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. UBS Group set a $28.00 target price on Kraft Heinz and gave the company a "neutral" rating in a report on Thursday, September 4th. The Goldman Sachs Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and increased their target price for the company from $25.00 to $27.00 in a report on Wednesday, June 25th. Morgan Stanley set a $29.00 target price on Kraft Heinz and gave the company an "equal weight" rating in a report on Wednesday, September 3rd. Mizuho set a $29.00 target price on Kraft Heinz and gave the company a "neutral" rating in a report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. assumed coverage on Kraft Heinz in a report on Wednesday, August 20th. They set a "neutral" rating and a $27.00 target price for the company. Seventeen analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $29.76.

Insiders Place Their Bets

In related news, Director Elio Leoni Sceti sold 25,000 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $27.91, for a total value of $697,750.00. Following the completion of the transaction, the director directly owned 40,000 shares in the company, valued at approximately $1,116,400. This represents a 38.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company's stock.

Kraft Heinz Price Performance

KHC stock opened at $26.13 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66. The business has a 50 day simple moving average of $27.47 and a 200-day simple moving average of $28.04. The firm has a market capitalization of $30.93 billion, a PE ratio of -5.82, a price-to-earnings-growth ratio of 3.05 and a beta of 0.23. Kraft Heinz Company has a 1 year low of $25.44 and a 1 year high of $36.31.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.26 billion. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The firm's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. Equities research analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, August 29th. Kraft Heinz's dividend payout ratio is presently -35.63%.

Kraft Heinz 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.

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Heinz Company (NASDAQ:KHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.