Kraft Heinz Company (NASDAQ:KHC) Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Kraft Heinz Company by 18.9%, owning a total of 779,466 shares valued at approximately $23.7 million as of the latest reporting period.
• Multiple institutional investors have significantly expanded their holdings in Kraft Heinz, with Pacer Advisors Inc. increasing their position by an astounding 4,390.7%.
• Kraft Heinz recently declared a quarterly dividend of $0.40 per share, translating to an annual payout of $1.60, representing a yield of 5.8%.

LPL Financial LLC increased its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 18.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 779,466 shares of the company's stock after acquiring an additional 123,719 shares during the period. LPL Financial LLC owned approximately 0.07% of Kraft Heinz worth $23,719,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on KHC. Mizuho set a $29.00 target price on Kraft Heinz and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Sanford C. Bernstein cut Kraft Heinz from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $34.00 to $31.00 in a research report on Tuesday, April 22nd. The Goldman Sachs Group upgraded 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 report on Wednesday, June 25th. Wells Fargo & Company raised their price target on shares of Kraft Heinz from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Finally, UBS Group boosted their price target on Kraft Heinz from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $30.35.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC traded up $0.24 during trading on Tuesday, reaching $27.04. 10,628,399 shares of the company traded hands, compared to its average volume of 18,197,340. The firm's fifty day simple moving average is $26.88 and its 200 day simple moving average is $28.51. The stock has a market cap of $32.00 billion, a P/E ratio of -6.02, a PEG ratio of 3.12 and a beta of 0.23. Kraft Heinz Company has a 12-month low of $25.44 and a 12-month high of $36.53. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47.

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

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Friday, August 29th. Kraft Heinz's dividend payout ratio (DPR) is presently -35.63%.

Insider Activity

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $27.91, for a total transaction of $697,750.00. Following the transaction, the director owned 40,000 shares of the company's stock, valued at approximately $1,116,400. This trade represents a 38.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company's stock.

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.