Leo Wealth LLC Sells 1,665 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Leo Wealth LLC cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.1% in the third quarter, HoldingsChannel reports. The fund owned 52,774 shares of the company’s stock after selling 1,665 shares during the period. Leo Wealth LLC’s holdings in Kraft Heinz were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of Kraft Heinz in the third quarter worth approximately $41,000. Sequoia Financial Advisors LLC lifted its stake in shares of Kraft Heinz by 10.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 25,212 shares of the company’s stock valued at $885,000 after buying an additional 2,446 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in Kraft Heinz by 372.0% in the 3rd quarter. Oakworth Capital Inc. now owns 1,501 shares of the company’s stock worth $53,000 after buying an additional 1,183 shares during the period. Oldfield Partners LLP boosted its holdings in Kraft Heinz by 15.2% in the 3rd quarter. Oldfield Partners LLP now owns 11,400 shares of the company’s stock worth $400,000 after buying an additional 1,500 shares during the period. Finally, Venture Visionary Partners LLC increased its stake in Kraft Heinz by 10.8% in the 3rd quarter. Venture Visionary Partners LLC now owns 15,181 shares of the company’s stock worth $533,000 after buying an additional 1,485 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KHC shares. Bank of America decreased their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Barclays upped their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $37.55.

Kraft Heinz Price Performance

NASDAQ:KHC traded up $0.20 during trading hours on Tuesday, reaching $35.69. The stock had a trading volume of 4,943,957 shares, compared to its average volume of 7,742,852. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The Kraft Heinz Company has a 52 week low of $31.08 and a 52 week high of $38.96. The company has a 50 day moving average price of $35.23 and a two-hundred day moving average price of $34.93. The stock has a market capitalization of $43.34 billion, a PE ratio of 15.50, a PEG ratio of 3.39 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 7.38% and a net margin of 7.30%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Insider Activity

In other news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was 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 of the company’s stock, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

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.