Alpha Omega Wealth Management LLC Decreases Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Alpha Omega Wealth Management LLC lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,236 shares of the company’s stock after selling 648 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Kraft Heinz were worth $459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. raised its stake in Kraft Heinz by 84.6% during the 4th quarter. Federated Hermes Inc. now owns 6,428 shares of the company’s stock valued at $238,000 after acquiring an additional 2,945 shares during the last quarter. abrdn plc raised its position in Kraft Heinz by 64.2% during the 4th quarter. abrdn plc now owns 360,941 shares of the company’s stock worth $13,348,000 after buying an additional 141,093 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at about $285,000. Syon Capital LLC acquired a new position in shares of Kraft Heinz during the fourth quarter worth about $302,000. Finally, Truist Financial Corp lifted its position in Kraft Heinz by 25.2% in the fourth quarter. Truist Financial Corp now owns 306,704 shares of the company’s stock valued at $11,342,000 after purchasing an additional 61,651 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KHC has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Citigroup dropped their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Piper Sandler lowered their price target 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. The Goldman Sachs Group assumed coverage on Kraft Heinz in a research note on Monday, August 12th. They set a “sell” rating and a $34.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.31.

Kraft Heinz Price Performance

Shares of KHC traded up $0.02 during midday trading on Monday, reaching $35.93. The stock had a trading volume of 5,874,743 shares, compared to its average volume of 7,968,841. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.61. The company has a market capitalization of $43.63 billion, a P/E ratio of 15.69, a P/E/G ratio of 3.52 and a beta of 0.53. The firm’s 50 day moving average price is $33.60 and its 200-day moving average price is $35.05.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. On average, analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.45%. Kraft Heinz’s payout ratio is 69.87%.

Insider Buying and Selling at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now owns 143,970 shares in the company, valued at approximately $5,182,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

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.