Daymark Wealth Partners LLC Sells 1,049 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Daymark Wealth Partners LLC lessened its stake in The Kraft Heinz Company (NASDAQ:KHC) by 13.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,690 shares of the company’s stock after selling 1,049 shares during the period. Daymark Wealth Partners LLC’s holdings in Kraft Heinz were worth $205,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC bought a new position in Kraft Heinz in the third quarter valued at approximately $411,304,000. State Street Corp boosted its position in shares of Kraft Heinz by 16.7% in the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC increased its holdings in Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares during the last quarter. Nordea Investment Management AB lifted its stake in Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after buying an additional 1,238,200 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Kraft Heinz by 1,139.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company’s stock worth $39,112,000 after buying an additional 1,170,814 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

KHC has been the topic of several recent analyst reports. Citigroup reduced their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. UBS Group lowered their price target on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. The Goldman Sachs Group cut their target price 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, Mizuho reduced their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz has an average rating of “Hold” and a consensus target price of $34.77.

Kraft Heinz Stock Up 0.8 %

Shares of KHC opened at $29.31 on Friday. The Kraft Heinz Company has a 52 week low of $28.37 and a 52 week high of $38.96. The firm’s 50-day simple moving average is $30.57 and its 200 day simple moving average is $33.13. 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 firm has a market cap of $35.44 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 3.45 and a beta of 0.48.

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

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend was Friday, November 29th. Kraft Heinz’s payout ratio is currently 144.14%.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction on 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 transaction, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.