Legacy Wealth Asset Management LLC Takes Position in The Kraft Heinz Company (NASDAQ:KHC)


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Legacy Wealth Asset Management LLC bought a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,249 shares of the company’s stock, valued at approximately $702,000.

Several other institutional investors have also made changes to their positions in the company. CWM LLC increased its position in shares of The Kraft Heinz by 9.0% during the 4th quarter. CWM LLC now owns 3,835 shares of the company’s stock valued at $133,000 after purchasing an additional 316 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of The Kraft Heinz by 14.8% during the 4th quarter. Global Retirement Partners LLC now owns 2,514 shares of the company’s stock worth $87,000 after acquiring an additional 324 shares during the period. Vestmark Advisory Solutions Inc. grew its stake in shares of The Kraft Heinz by 5.1% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 7,884 shares of the company’s stock worth $273,000 after acquiring an additional 380 shares during the period. Clear Harbor Asset Management LLC grew its stake in shares of The Kraft Heinz by 0.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 56,342 shares of the company’s stock worth $1,953,000 after acquiring an additional 390 shares during the period. Finally, HighPoint Advisor Group LLC grew its stake in shares of The Kraft Heinz by 4.4% during the 4th quarter. HighPoint Advisor Group LLC now owns 9,485 shares of the company’s stock worth $320,000 after acquiring an additional 402 shares during the period. 58.93% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on KHC. Stifel Nicolaus increased their price target on The Kraft Heinz from $33.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, February 12th. Credit Suisse Group raised their target price on The Kraft Heinz from $32.00 to $35.00 and gave the stock an “underperform” rating in a research note on Monday, March 29th. Morgan Stanley raised their target price on The Kraft Heinz from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Friday, February 12th. JPMorgan Chase & Co. restated a “hold” rating and issued a $41.00 target price on shares of The Kraft Heinz in a research note on Sunday, March 14th. Finally, Jefferies Financial Group raised their target price on The Kraft Heinz from $32.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, January 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $37.14.

Shares of KHC opened at $40.64 on Thursday. The company has a market cap of $49.71 billion, a PE ratio of -101.60, a price-to-earnings-growth ratio of 2.51 and a beta of 1.00. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $38.53 and a 200-day moving average price of $34.05. The Kraft Heinz Company has a 12-month low of $26.61 and a 12-month high of $41.21.

The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, February 10th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.06. The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.88 billion. The Kraft Heinz had a positive return on equity of 6.80% and a negative net margin of 1.92%. During the same quarter last year, the company posted $0.72 EPS. As a group, analysts predict that The Kraft Heinz Company will post 2.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Friday, March 12th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, March 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.94%. The Kraft Heinz’s dividend payout ratio is 56.14%.

The Kraft Heinz Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy, meals, meats and seafood, frozen and chilled foods, packaged drinking pouches, appetizers, nuts and salted snacks, refreshment beverages, coffee, infant and nutrition products, and other grocery products, as well as desserts, dressings, toppings, and baking.

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

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