Sound Income Strategies LLC Has $8.47 Million Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Sound Income Strategies LLC boosted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 124.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,675 shares of the company’s stock after purchasing an additional 152,584 shares during the quarter. Sound Income Strategies LLC’s holdings in Kraft Heinz were worth $8,466,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Kraft Heinz by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after purchasing an additional 545,504 shares in the last quarter. Clifford Capital Partners LLC raised its stake in shares of Kraft Heinz by 21.4% in the 2nd quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock valued at $14,656,000 after buying an additional 80,101 shares in the last quarter. Banque Cantonale Vaudoise lifted its holdings in shares of Kraft Heinz by 52.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock worth $5,988,000 after acquiring an additional 58,665 shares during the period. Brookstone Capital Management boosted its position in shares of Kraft Heinz by 229.8% during the 4th quarter. Brookstone Capital Management now owns 342,880 shares of the company’s stock valued at $10,530,000 after acquiring an additional 238,913 shares in the last quarter. Finally, Easterly Investment Partners LLC increased its stake in Kraft Heinz by 39.4% in the third quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company’s stock valued at $5,529,000 after acquiring an additional 44,485 shares during the period. 78.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Price Performance

NASDAQ:KHC opened at $29.07 on Friday. The company has a market cap of $35.15 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 3.45 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The stock’s fifty day moving average price is $30.62 and its two-hundred day moving average price is $33.16. The Kraft Heinz Company has a 52-week low of $28.37 and a 52-week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share. On average, analysts anticipate that The Kraft Heinz Company will post 3 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were paid a $0.40 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 5.50%. Kraft Heinz’s payout ratio is presently 144.14%.

Analyst Ratings Changes

A number of research analysts have commented on KHC shares. Citigroup cut their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company lowered their price target on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Mizuho cut their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. The Goldman Sachs Group reduced their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.23.

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.