White Knight Strategic Wealth Advisors LLC Acquires 3,539 Shares of The Kraft Heinz Company (NASDAQ:KHC)

White Knight Strategic Wealth Advisors LLC lifted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 30.3% in the third quarter, Holdings Channel.com reports. The fund owned 15,236 shares of the company’s stock after purchasing an additional 3,539 shares during the quarter. White Knight Strategic Wealth Advisors LLC’s holdings in Kraft Heinz were worth $535,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC boosted its stake in Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Kraft Heinz during the third quarter worth $27,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after acquiring an additional 797 shares during the period. Asset Dedication LLC boosted its stake in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares in the last quarter. Finally, Bangor Savings Bank bought a new stake in shares of Kraft Heinz in the 3rd quarter worth about $32,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KHC shares. Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Piper Sandler reissued a “neutral” rating and issued a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Mizuho dropped their price target 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 price objective on 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, Citigroup decreased their target price on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.55.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $31.97 on Friday. The business’s 50-day simple moving average is $33.77 and its 200 day simple moving average is $34.13. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock has a market cap of $38.66 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 3.65 and a beta of 0.49. The Kraft Heinz Company has a 12-month low of $30.40 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its 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 company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. As a group, research analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by company insiders.

About Kraft Heinz

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.