RWA Wealth Partners LLC Sells 2,063 Shares of The Kraft Heinz Company (NASDAQ:KHC)

RWA Wealth Partners LLC reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,081 shares of the company’s stock after selling 2,063 shares during the quarter. RWA Wealth Partners LLC’s holdings in Kraft Heinz were worth $2,259,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in Kraft Heinz in the 3rd quarter valued at approximately $26,000. Riverview Trust Co purchased a new stake in Kraft Heinz during the 3rd quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Kraft Heinz during the 4th quarter valued at $32,000. BKM Wealth Management LLC purchased a new stake in Kraft Heinz during the 4th quarter valued at $33,000. Finally, Headinvest LLC purchased a new stake in Kraft Heinz during the 3rd quarter valued at $38,000. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Stock Down 0.2 %

KHC opened at $38.07 on Wednesday. The firm has a 50-day simple moving average of $35.98 and a two-hundred day simple moving average of $35.48. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $41.47. The company has a market capitalization of $46.28 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 3.01 and a beta of 0.67. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.77 by $0.01. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.99 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue was down 7.1% on a year-over-year basis. Analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, March 7th. Kraft Heinz’s payout ratio is 69.26%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup assumed coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They set a “buy” rating and a $43.00 target price for the company. Bank of America upped their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Wells Fargo & Company reduced their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.57.

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.