Chicago Partners Investment Group LLC Makes New Investment in Kraft Heinz Company (NASDAQ:KHC)

Key Points

• Chicago Partners Investment Group LLC has acquired 11,109 shares of Kraft Heinz Company in Q1 2023, valued at approximately $314,000.
• The current average price target for Kraft Heinz shares is $30.35, with 17 analysts rating it as a hold and 3 as a sell.
• Kraft Heinz recently declared a quarterly dividend of $0.40, with a dividend yield of 5.8%, scheduled for payment on September 26th.

Chicago Partners Investment Group LLC bought a new position in Kraft Heinz Company (NASDAQ:KHC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,109 shares of the company's stock, valued at approximately $314,000.

Other large investors have also bought and sold shares of the company. Rossby Financial LCC bought a new stake in Kraft Heinz during the first quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new position in Kraft Heinz during the first quarter valued at approximately $33,000. Investment Management Corp VA ADV lifted its holdings in Kraft Heinz by 141.7% during the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock valued at $35,000 after purchasing an additional 669 shares in the last quarter. Pinney & Scofield Inc. purchased a new position in Kraft Heinz during the fourth quarter valued at approximately $38,000. Finally, Abound Wealth Management lifted its holdings in Kraft Heinz by 1,157.0% during the first quarter. Abound Wealth Management now owns 1,257 shares of the company's stock valued at $38,000 after purchasing an additional 1,157 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Elio Leoni Sceti sold 25,000 shares of the business's stock in a transaction dated 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 sale, the director directly owned 40,000 shares of the company's stock, valued at approximately $1,116,400. The trade was a 38.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Kraft Heinz Trading Down 1.3%

Shares of NASDAQ KHC traded down $0.37 during mid-day trading on Thursday, reaching $27.65. 15,032,417 shares of the company's stock were exchanged, compared to its average volume of 12,504,757. The firm has a market capitalization of $32.73 billion, a price-to-earnings ratio of -6.16, a PEG ratio of 3.19 and a beta of 0.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07. Kraft Heinz Company has a 52-week low of $25.44 and a 52-week high of $36.53. The company's 50-day moving average is $26.98 and its 200-day moving average is $28.43.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%. The business had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the prior year, the business posted $0.78 EPS. The company's revenue was down 1.9% compared to the same quarter last year. Analysts expect that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, August 29th. This represents a $1.60 annualized dividend and a yield of 5.8%. Kraft Heinz's dividend payout ratio is -35.63%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KHC shares. Argus reissued a "hold" rating and issued a $28.02 target price on shares of Kraft Heinz in a report on Thursday. Mizuho set a $29.00 price target on Kraft Heinz and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. UBS Group raised their price target on Kraft Heinz from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Cfra Research downgraded Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, Sanford C. Bernstein downgraded Kraft Heinz from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating and eighteen have given a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $30.22.

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.