Kraft Heinz Company $KHC Stake Raised by Bard Financial Services Inc.

Bard Financial Services Inc. raised its holdings in shares of Kraft Heinz Company (NASDAQ:KHC) by 43.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,075 shares of the company’s stock after acquiring an additional 44,850 shares during the quarter. Bard Financial Services Inc.’s holdings in Kraft Heinz were worth $3,882,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Kraft Heinz by 0.4% during the second quarter. Vanguard Group Inc. now owns 102,435,702 shares of the company’s stock worth $2,644,890,000 after purchasing an additional 454,868 shares during the period. State Street Corp lifted its position in Kraft Heinz by 1.0% in the 2nd quarter. State Street Corp now owns 46,376,394 shares of the company’s stock worth $1,197,438,000 after buying an additional 462,963 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Kraft Heinz by 14.7% during the 2nd quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock valued at $681,663,000 after buying an additional 3,392,470 shares during the period. Invesco Ltd. grew its holdings in shares of Kraft Heinz by 7.1% during the 2nd quarter. Invesco Ltd. now owns 17,584,674 shares of the company’s stock valued at $454,036,000 after acquiring an additional 1,171,262 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Kraft Heinz during the 2nd quarter valued at $276,159,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Buying and Selling

In other news, insider Miguel Patricio sold 125,000 shares of Kraft Heinz stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the sale, the insider owned 686,817 shares of the company’s stock, valued at approximately $17,046,797.94. This trade represents a 15.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by company insiders.

Kraft Heinz Stock Performance

KHC opened at $24.13 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $24.76 and its two-hundred day moving average price is $26.05. The firm has a market capitalization of $28.56 billion, a P/E ratio of -6.47 and a beta of 0.09. Kraft Heinz Company has a 12-month low of $23.60 and a 12-month high of $33.35.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The company had revenue of $6.39 billion during the quarter. On average, equities analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 6.6%. The ex-dividend date was Friday, November 28th. Kraft Heinz’s payout ratio is currently -42.90%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Wells Fargo & Company cut their price target on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. JPMorgan Chase & Co. lowered their price target on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Zacks Research lowered shares of Kraft Heinz from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. Finally, Piper Sandler raised their price target on shares of Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $26.63.

Kraft Heinz Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.