TBH Global Asset Management LLC Trims Stake in The Kraft Heinz Company (NASDAQ:KHC)

TBH Global Asset Management LLC reduced its position in The Kraft Heinz Company (NASDAQ:KHC) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Kraft Heinz during the fourth quarter worth approximately $32,000. BKM Wealth Management LLC purchased a new position in shares of Kraft Heinz during the fourth quarter worth approximately $33,000. Headinvest LLC purchased a new position in shares of Kraft Heinz during the third quarter worth approximately $38,000. VisionPoint Advisory Group LLC increased its position in shares of Kraft Heinz by 326.1% during the third quarter. VisionPoint Advisory Group LLC now owns 1,223 shares of the company’s stock worth $41,000 after acquiring an additional 936 shares during the period. Finally, Anchor Investment Management LLC purchased a new position in shares of Kraft Heinz during the fourth quarter worth approximately $47,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 completion of the transaction, the insider now owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC traded up $0.05 on Friday, hitting $35.85. 5,696,549 shares of the company were exchanged, compared to its average volume of 7,904,067. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $38.96. The stock’s 50 day moving average price is $36.61 and its 200 day moving average price is $36.18. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $43.53 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 2.92 and a beta of 0.65.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter last year, the company posted $0.68 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. Sell-side analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on KHC shares. Wells Fargo & Company cut their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, February 15th. Bank of America lifted 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Citigroup initiated coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Piper Sandler upgraded shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 target price for the company in a research note on Wednesday. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $40.08.

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.