Thrive Wealth Management LLC Invests $288,000 in The Kraft Heinz Company (NASDAQ:KHC)

Thrive Wealth Management LLC purchased a new position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,450 shares of the company's stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds have also made changes to their positions in KHC. Headlands Technologies LLC acquired a new stake in Kraft Heinz in the 4th quarter valued at about $2,048,000. Versant Capital Management Inc grew its stake in Kraft Heinz by 493.4% in the 1st quarter. Versant Capital Management Inc now owns 12,354 shares of the company's stock valued at $376,000 after acquiring an additional 10,272 shares during the last quarter. Banque Pictet & Cie SA lifted its holdings in Kraft Heinz by 10.8% in the 4th quarter. Banque Pictet & Cie SA now owns 90,000 shares of the company's stock valued at $2,764,000 after purchasing an additional 8,787 shares in the last quarter. Americana Partners LLC purchased a new position in Kraft Heinz in the 4th quarter valued at about $7,005,000. Finally, Van ECK Associates Corp lifted its holdings in Kraft Heinz by 2.2% in the 4th quarter. Van ECK Associates Corp now owns 125,388 shares of the company's stock valued at $3,850,000 after purchasing an additional 2,727 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Trading Down 0.3%

Shares of KHC opened at $26.62 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 12-month low of $26.01 and a 12-month high of $36.53. The firm has a market capitalization of $31.51 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30. The stock's fifty day simple moving average is $28.34 and its 200-day simple moving average is $29.63.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The company's quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. As a group, research analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.01%. Kraft Heinz's payout ratio is presently 73.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler reduced their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company cut their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Cfra Research lowered shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. Wall Street Zen upgraded shares of Kraft Heinz from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Finally, Barclays cut their price objective on shares of Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Four equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to data from MarketBeat.com, Kraft Heinz has an average rating of "Hold" and a consensus target price of $30.53.

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.

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