LJI Wealth Management LLC Lowers Stake in The Kraft Heinz Company (NASDAQ:KHC)

LJI Wealth Management LLC cut its stake in The Kraft Heinz Company (NASDAQ:KHC) by 36.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,800 shares of the company’s stock after selling 5,150 shares during the quarter. LJI Wealth Management LLC’s holdings in Kraft Heinz were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KHC. Fortitude Family Office LLC lifted its position in shares of Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 529 shares during the last quarter. New Covenant Trust Company N.A. purchased a new stake in Kraft Heinz during the first quarter valued at approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in Kraft Heinz in the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. increased its position in shares of Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares in the last quarter. Finally, Asset Dedication LLC lifted its holdings in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of research analyst reports. Evercore ISI decreased their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Piper Sandler decreased their price objective on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Barclays decreased their price target on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.00.

Insider Activity at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by corporate insiders.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC traded down $0.65 during trading on Friday, reaching $31.14. 17,403,523 shares of the company traded hands, compared to its average volume of 7,865,633. The Kraft Heinz Company has a 12-month low of $30.40 and a 12-month high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The stock has a market cap of $37.65 billion, a P/E ratio of 28.05, a PEG ratio of 3.67 and a beta of 0.49. The firm’s fifty day simple moving average is $34.53 and its 200 day simple moving average is $34.46.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Kraft Heinz’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. As a group, research analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

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.