Sound Income Strategies LLC Grows Stock Position in Kraft Heinz Company $KHC

Key Points

• Sound Income Strategies LLC increased its stake in Kraft Heinz Company by 19.2%, owning 335,621 shares valued at approximately $8.7 million as of the latest SEC filing.
• Insider trading saw Director Elio Leoni Sceti sell 25,000 shares of Kraft Heinz, reducing their ownership by 38.46% in a transaction worth $697,750.
• Analysts have mixed ratings on Kraft Heinz, with a consensus price target of $29.76 and varying recommendations from "Hold" to "Strong Buy."

Sound Income Strategies LLC boosted its holdings in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 19.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 335,621 shares of the company's stock after acquiring an additional 54,103 shares during the quarter. Sound Income Strategies LLC's holdings in Kraft Heinz were worth $8,666,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KHC. Rossby Financial LCC acquired a new stake in Kraft Heinz in the first quarter valued at $29,000. Wayfinding Financial LLC acquired a new stake in Kraft Heinz in the first quarter valued at $33,000. Investment Management Corp VA ADV lifted its holdings in Kraft Heinz by 141.7% in the first 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. Abound Wealth Management lifted its holdings in Kraft Heinz by 1,157.0% in the first quarter. Abound Wealth Management now owns 1,257 shares of the company's stock valued at $38,000 after acquiring an additional 1,157 shares during the period. Finally, Banque Transatlantique SA acquired a new stake in Kraft Heinz in the first quarter valued at $40,000. Institutional investors and hedge funds own 78.17% of the company's stock.

Insider Activity at Kraft Heinz

In related news, Director Elio Leoni Sceti sold 25,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $27.91, for a total transaction of $697,750.00. Following the sale, the director owned 40,000 shares of the company's stock, valued at $1,116,400. This trade represents a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KHC. 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. Stifel Nicolaus dropped their price target on Kraft Heinz from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, September 3rd. Wells Fargo & Company dropped their price target on Kraft Heinz from $29.00 to $27.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 3rd. Hsbc Global Res upgraded Kraft Heinz to a "hold" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group upgraded Kraft Heinz from a "sell" rating to a "neutral" rating and raised their price target for the company from $25.00 to $27.00 in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $29.76.

Kraft Heinz Stock Up 0.9%

KHC opened at $26.05 on Monday. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. The firm has a market cap of $30.83 billion, a P/E ratio of -5.80, a PEG ratio of 3.04 and a beta of 0.23. Kraft Heinz Company has a 52 week low of $25.44 and a 52 week high of $36.31. The business's fifty day simple moving average is $27.27 and its 200 day simple moving average is $27.69.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. The business had revenue of $6.35 billion for 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 business's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. As a group, equities research analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.1%. Kraft Heinz's dividend payout ratio (DPR) is presently -35.63%.

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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