Sharp Financial Services LLC Invests $235,000 in Kraft Heinz Company $KHC

Sharp Financial Services LLC purchased a new position in shares of Kraft Heinz Company (NASDAQ:KHC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,100 shares of the company’s stock, valued at approximately $235,000.

Other institutional investors have also modified their holdings of the company. Rossby Financial LCC purchased a new position in shares of Kraft Heinz during the 1st quarter worth $29,000. Wayfinding Financial LLC purchased a new position in shares of Kraft Heinz during the 1st quarter worth $33,000. Investment Management Corp VA ADV raised its holdings in shares of Kraft Heinz by 141.7% during the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock worth $35,000 after acquiring an additional 669 shares during the period. Abound Wealth Management raised its holdings in shares of Kraft Heinz by 1,157.0% during the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company’s stock worth $38,000 after acquiring an additional 1,157 shares during the period. Finally, Banque Transatlantique SA purchased a new position in shares of Kraft Heinz during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Activity at Kraft Heinz

In other news, Director Elio Leoni Sceti sold 25,000 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $27.91, for a total transaction of $697,750.00. Following the completion of the transaction, the director directly owned 40,000 shares of the company’s stock, valued at approximately $1,116,400. The trade was a 38.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

KHC has been the topic of several analyst reports. Hsbc Global Res upgraded Kraft Heinz to a “hold” rating in a report on Friday, August 1st. Weiss Ratings restated a “sell (d)” rating on shares of Kraft Heinz in a report on Wednesday, October 8th. DZ Bank upgraded shares of Kraft Heinz from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. UBS Group reduced their price objective on shares of Kraft Heinz from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Barclays reduced their price objective on shares of Kraft Heinz from $29.00 to $26.00 and set an “equal weight” rating on the stock in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $29.53.

Kraft Heinz Stock Up 0.4%

Shares of NASDAQ:KHC opened at $25.15 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66. The firm has a market capitalization of $29.77 billion, a PE ratio of -5.60, a price-to-earnings-growth ratio of 2.94 and a beta of 0.16. The firm’s 50-day moving average is $26.74 and its two-hundred day moving average is $27.40. Kraft Heinz Company has a 1 year low of $24.85 and a 1 year high of $36.31.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. The company had revenue of $6.39 billion for the quarter. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. Analysts predict that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.4%. Kraft Heinz’s payout ratio is currently -35.63%.

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.