Corient Private Wealth LLC Has $20.22 Million Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Corient Private Wealth LLC lowered its position in The Kraft Heinz Company (NASDAQ:KHC) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 546,774 shares of the company’s stock after selling 35,282 shares during the quarter. Corient Private Wealth LLC’s holdings in Kraft Heinz were worth $20,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Trust N.A. grew its stake in shares of Kraft Heinz by 11.0% in the 4th quarter. Raymond James Trust N.A. now owns 39,610 shares of the company’s stock valued at $1,465,000 after purchasing an additional 3,916 shares during the period. Cutter & CO Brokerage Inc. raised its stake in Kraft Heinz by 6.6% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 13,857 shares of the company’s stock worth $512,000 after acquiring an additional 864 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Kraft Heinz during the third quarter valued at $5,399,000. Dimensional Fund Advisors LP boosted its stake in shares of Kraft Heinz by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock valued at $113,960,000 after purchasing an additional 474,758 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Kraft Heinz by 16.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,768,073 shares of the company’s stock worth $59,478,000 after purchasing an additional 247,896 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KHC shares. Citigroup started coverage on shares of Kraft Heinz in a research report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price target on the stock. Piper Sandler raised Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price target for the company in a report on Wednesday. Bank of America boosted 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. Deutsche Bank Aktiengesellschaft raised their target price on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company reduced their price target on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.08.

Insider Activity

In other news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the completion of the sale, the insider now owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Kraft Heinz Price Performance

Shares of KHC stock opened at $35.80 on Friday. The firm’s 50 day moving average price is $36.61 and its two-hundred day moving average price is $36.18. The stock has a market cap of $43.47 billion, a PE ratio of 15.63, a PEG ratio of 2.92 and a beta of 0.65. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.43 billion. During the same period in the previous year, the company earned $0.68 EPS. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

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.