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

Leo Wealth LLC trimmed its position in The Kraft Heinz Company (NASDAQ:KHC) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,774 shares of the company’s stock after selling 1,665 shares during the quarter. Leo Wealth LLC’s holdings in Kraft Heinz were worth $1,853,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KHC. Eastern Bank purchased a new stake in Kraft Heinz in the third quarter valued at approximately $41,000. Sequoia Financial Advisors LLC raised its position in Kraft Heinz by 10.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 25,212 shares of the company’s stock worth $885,000 after purchasing an additional 2,446 shares during the period. Oakworth Capital Inc. raised its position 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 purchasing an additional 1,183 shares during the period. Oldfield Partners LLP raised its position 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 purchasing an additional 1,500 shares during the period. Finally, Venture Visionary Partners LLC raised its position 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 purchasing an additional 1,485 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KHC has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 target price on the stock. Bank of America dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lowered their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Citigroup cut their target price on Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.55.

Kraft Heinz Stock Up 0.6 %

Kraft Heinz stock traded up $0.20 during trading hours on Tuesday, hitting $35.69. 4,943,957 shares of the stock traded hands, compared to its average volume of 7,742,852. The firm’s 50-day moving average price is $35.23 and its two-hundred day moving average price is $34.93. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The company has a market cap of $43.34 billion, a PE ratio of 15.50, a PEG ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a one year low of $31.08 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the previous year, the firm posted $0.79 EPS. The business’s revenue was down 3.3% on a year-over-year basis. On average, research analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a $0.40 dividend. 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 presently 69.87%.

Insider Buying and Selling

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by company insiders.

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.