TBH Global Asset Management LLC Cuts Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

TBH Global Asset Management LLC reduced its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,145 shares of the company’s stock after selling 502 shares during the quarter. TBH Global Asset Management LLC’s holdings in Kraft Heinz were worth $856,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. TCW Group Inc. bought a new position in Kraft Heinz in the 4th quarter worth about $1,098,000. Hohimer Wealth Management LLC increased its position in shares of Kraft Heinz by 7.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 24,844 shares of the company’s stock valued at $919,000 after purchasing an additional 1,790 shares during the last quarter. WBI Investments LLC increased its position in shares of Kraft Heinz by 104.9% during the 4th quarter. WBI Investments LLC now owns 119,712 shares of the company’s stock valued at $4,427,000 after purchasing an additional 61,294 shares during the last quarter. Union Savings Bank increased its position in shares of Kraft Heinz by 10.8% during the 4th quarter. Union Savings Bank now owns 3,855 shares of the company’s stock valued at $143,000 after purchasing an additional 376 shares during the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of Kraft Heinz by 16.8% during the 4th quarter. King Luther Capital Management Corp now owns 2,178,740 shares of the company’s stock valued at $80,570,000 after purchasing an additional 312,606 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the sale, the insider now owns 158,266 shares in the company, valued at $5,689,662.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Up 0.1 %

Shares of NASDAQ KHC traded up $0.05 during midday trading on Friday, hitting $35.85. 5,696,549 shares of the company traded hands, compared to its average volume of 7,904,067. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09. The stock has a 50-day moving average price of $36.61 and a 200 day moving average price of $36.18. The firm has a market cap of $43.53 billion, a P/E ratio of 15.63, a P/E/G ratio of 2.92 and a beta of 0.65.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. Kraft Heinz’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. As a group, analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Analysts Set New Price Targets

KHC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Bank of America increased their target price on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Citigroup began coverage on Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 target price for the company. Wells Fargo & Company dropped their target price on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Finally, Piper Sandler upgraded Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 target price for the company in a report on Wednesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.08.

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.