Leo Wealth LLC Sells 9,944 Shares of Kraft Heinz Company (NASDAQ:KHC)

Leo Wealth LLC trimmed its holdings in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 53.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,631 shares of the company's stock after selling 9,944 shares during the quarter. Leo Wealth LLC's holdings in Kraft Heinz were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Asahi Life Asset Management CO. LTD. bought a new stake in shares of Kraft Heinz in the first quarter worth approximately $351,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Kraft Heinz by 22.9% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,296 shares of the company's stock valued at $310,000 after purchasing an additional 1,917 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Kraft Heinz by 12.3% during the first quarter. SBI Securities Co. Ltd. now owns 64,193 shares of the company's stock valued at $1,953,000 after purchasing an additional 7,048 shares in the last quarter. Bogart Wealth LLC lifted its holdings in shares of Kraft Heinz by 133.8% in the first quarter. Bogart Wealth LLC now owns 3,344 shares of the company's stock worth $102,000 after buying an additional 1,914 shares in the last quarter. Finally, Sigma Planning Corp lifted its holdings in shares of Kraft Heinz by 11.4% in the first quarter. Sigma Planning Corp now owns 90,292 shares of the company's stock worth $2,748,000 after buying an additional 9,252 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KHC. The Goldman Sachs Group upgraded shares of Kraft Heinz from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $25.00 to $27.00 in a research report on Wednesday, June 25th. Mizuho set a $29.00 price objective on shares of Kraft Heinz and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Citigroup restated a "sell" rating and issued a $27.00 price target (down from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Sanford C. Bernstein cut shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $34.00 to $31.00 in a report on Tuesday, April 22nd. Finally, DZ Bank lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $30.41.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $27.80 on Tuesday. The firm has a market capitalization of $32.90 billion, a P/E ratio of 12.69, a PEG ratio of 3.17 and a beta of 0.25. The company has a quick ratio of 0.81, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average price of $26.73 and a 200 day moving average price of $28.68. Kraft Heinz Company has a 52 week low of $25.44 and a 52 week high of $36.53.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $6.02 billion. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. Kraft Heinz's revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS. Sell-side analysts expect that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 5.76%. Kraft Heinz's dividend payout ratio (DPR) is presently 73.06%.

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.

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