The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Armistice Capital LLC

Armistice Capital LLC trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 32.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 875,556 shares of the company’s stock after selling 415,452 shares during the period. Armistice Capital LLC owned about 0.07% of Kraft Heinz worth $32,378,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Steward Partners Investment Solutions LLC bought a new position in Kraft Heinz during the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at $32,000. BKM Wealth Management LLC bought a new stake in shares of Kraft Heinz in the 4th quarter worth approximately $33,000. Headinvest LLC acquired a new position in Kraft Heinz in the third quarter worth approximately $38,000. Finally, VisionPoint Advisory Group LLC boosted its stake in shares of Kraft Heinz by 326.1% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,223 shares of the company’s stock worth $41,000 after acquiring an additional 936 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the sale, the insider now owns 158,266 shares in the company, valued at $5,689,662.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

KHC has been the topic of several recent analyst reports. Piper Sandler raised shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 target price on the stock in a research note on Wednesday, May 22nd. Wells Fargo & Company decreased their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Bank of America boosted their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.08.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC traded down $0.76 during mid-day trading on Wednesday, hitting $34.87. The company had a trading volume of 2,938,594 shares, compared to its average volume of 7,877,035. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. The firm has a market cap of $42.34 billion, a P/E ratio of 15.56, a PEG ratio of 2.81 and a beta of 0.57. The business’s 50-day simple moving average is $36.57 and its 200-day simple moving average is $36.32.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter in the prior year, the company posted $0.68 EPS. The business’s revenue was down 1.2% on a year-over-year basis. As a group, analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.60 annualized dividend and a yield of 4.59%. Kraft Heinz’s dividend payout ratio is 69.87%.

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.