RK Asset Management LLC Has $7.88 Million Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

RK Asset Management LLC reduced its stake in shares of The Kraft Heinz Company (NASDAQ:KHCFree Report) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,629 shares of the company’s stock after selling 2,184 shares during the quarter. Kraft Heinz makes up 6.4% of RK Asset Management LLC’s holdings, making the stock its 6th largest position. RK Asset Management LLC’s holdings in Kraft Heinz were worth $7,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Steward Partners Investment Solutions LLC bought a new stake in shares of Kraft Heinz in the 4th quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Kraft Heinz in the fourth quarter valued at approximately $32,000. BKM Wealth Management LLC acquired a new stake in Kraft Heinz in the fourth quarter valued at approximately $33,000. Headinvest LLC purchased a new position in Kraft Heinz in the third quarter worth $38,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Kraft Heinz during the fourth quarter worth $38,000. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

NASDAQ KHC traded down $0.25 on Tuesday, reaching $32.67. 6,077,595 shares of the company’s stock traded hands, compared to its average volume of 7,987,189. The stock has a 50 day moving average price of $35.84 and a 200-day moving average price of $36.23. The firm has a market cap of $39.67 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.61 and a beta of 0.57. 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 Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96.

Kraft Heinz (NASDAQ:KHCGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. Equities research analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Insider Activity

In related news, insider Lande Rashida La sold 10,140 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the sale, the insider now owns 158,266 shares in the company, valued at $5,689,662.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Piper Sandler raised Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price objective for the company in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Bank of America upped their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz has a consensus rating of “Moderate Buy” and an average target price of $40.08.

Get Our Latest Report on Kraft Heinz

Kraft Heinz Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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