Thrive Wealth Management LLC Has $215,000 Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Thrive Wealth Management LLC trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 43.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,047 shares of the company’s stock after selling 4,669 shares during the period. Thrive Wealth Management LLC’s holdings in Kraft Heinz were worth $215,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KHC. WealthPLAN Partners LLC acquired a new position in shares of Kraft Heinz during the 1st quarter valued at about $25,000. Ancora Advisors LLC boosted its position in Kraft Heinz by 69.9% during the first quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock worth $26,000 after purchasing an additional 272 shares during the period. Heritage Wealth Management LLC acquired a new position in Kraft Heinz during the fourth quarter valued at approximately $29,000. Sound Income Strategies LLC lifted its stake in shares of Kraft Heinz by 436.2% in the second quarter. Sound Income Strategies LLC now owns 740 shares of the company’s stock worth $26,000 after buying an additional 602 shares during the last quarter. Finally, ST Germain D J Co. Inc. bought a new stake in shares of Kraft Heinz during the 4th quarter worth $30,000. 75.39% of the stock is currently owned by institutional investors.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, CAO Lande Rashida La sold 16,453 shares of Kraft Heinz stock in a transaction on Monday, August 7th. The stock was sold at an average price of $35.07, for a total transaction of $577,006.71. Following the completion of the transaction, the chief accounting officer now directly owns 206,243 shares of the company’s stock, valued at $7,232,942.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

Kraft Heinz Trading Down 0.1 %

Shares of KHC stock opened at $33.42 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.50 and a current ratio of 0.95. The firm has a fifty day moving average of $34.52 and a 200-day moving average of $36.94. The Kraft Heinz Company has a 52-week low of $32.42 and a 52-week high of $42.80. The stock has a market cap of $41.05 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 2.49 and a beta of 0.68.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. The firm had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.80 billion. Kraft Heinz had a net margin of 11.65% and a return on equity of 7.45%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. On average, equities research analysts forecast that The Kraft Heinz Company will post 2.89 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, August 31st. This represents a $1.60 annualized dividend and a dividend yield of 4.79%. Kraft Heinz’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analysts Forecast Growth

KHC has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Kraft Heinz from $43.00 to $41.00 in a report on Monday, June 26th. Morgan Stanley cut their price objective on Kraft Heinz from $44.00 to $39.00 in a research report on Wednesday, June 14th. Barclays decreased their target price on Kraft Heinz from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, July 20th. Mizuho cut their price target on Kraft Heinz from $50.00 to $47.00 in a report on Monday, July 31st. Finally, TD Cowen initiated coverage on shares of Kraft Heinz in a research note on Wednesday, September 13th. They issued a “market perform” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and a consensus price target of $42.00.

About Kraft Heinz

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.