Sweeney & Michel LLC Makes New $411,000 Investment in The Kraft Heinz Company (NASDAQ:KHC)

Sweeney & Michel LLC bought a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,350 shares of the company’s stock, valued at approximately $411,000.

A number of other institutional investors have also recently bought and sold shares of the business. NBT Bank N A NY boosted its position in shares of Kraft Heinz by 2.2% during the first quarter. NBT Bank N A NY now owns 12,785 shares of the company’s stock worth $472,000 after purchasing an additional 270 shares in the last quarter. Welch Group LLC boosted its position in shares of Kraft Heinz by 1.9% during the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock worth $549,000 after purchasing an additional 272 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Kraft Heinz by 13.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock worth $89,000 after purchasing an additional 282 shares in the last quarter. Archer Investment Corp boosted its position in shares of Kraft Heinz by 2.0% during the fourth quarter. Archer Investment Corp now owns 14,709 shares of the company’s stock worth $544,000 after purchasing an additional 294 shares in the last quarter. Finally, Ingalls & Snyder LLC boosted its position in shares of Kraft Heinz by 3.1% during the fourth quarter. Ingalls & Snyder LLC now owns 10,005 shares of the company’s stock worth $370,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock traded up $0.42 during trading on Tuesday, hitting $33.84. 11,638,508 shares of the stock were exchanged, compared to its average volume of 7,908,276. The stock has a market capitalization of $41.09 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 3.35 and a beta of 0.53. The company has a fifty day moving average price of $33.37 and a 200-day moving average price of $35.33. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $38.96. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share 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 company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period in the previous year, the business earned $0.68 EPS. Kraft Heinz’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities analysts predict that The Kraft Heinz Company will post 2.99 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 6th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.73%. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KHC. Citigroup cut their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Bank of America cut their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Piper Sandler cut their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Wells Fargo & Company cut their price objective on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 27th. Finally, Barclays cut their price objective on shares of Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, July 19th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.83.

Insider Activity at Kraft Heinz

In related 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 transaction, the insider now owns 158,266 shares in the company, valued at approximately $5,689,662.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.32% of the stock is owned by company insiders.

About Kraft Heinz

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.