Skip to Content

Hartford Investment Management Co. reduces its stake in Kraft Heinz Company (NASDAQ:KHC)

Hartford Investment Management Co. reduces its stake in Kraft Heinz Company (NASDAQ:KHC)

The most recent 13F filing that the Hartford Investment Management Co. made with the SEC revealed that during the third quarter, the company’s holdings in The Kraft Heinz Company (NASDAQ: KHC) were reduced by 11.5%. Following the purchase and subsequent sale of 9,788 company shares during the period under review, the corporation now has a total of 75,661 of those shares in its possession. The value of the interests that Hartford Investment Management Co. held in Kraft Heinz as of the end of the most recent reporting period was $2,523,000.

During the most recent period, several institutional investors, including hedge funds and various other investment funds, modified how they were holding onto the stock. During the first three months of the year, an investment of $65,000 was made by Fairfield Bush & Co. toward the creation of a new position at Kraft Heinz. Acadian Asset Management LLC saw a 197.7% increase in the value of its holdings in Kraft Heinz over the first three months of the year. Currently, Acadian Asset Management LLC is the sole owner of 2,331 shares, giving it a total value of $90,000. This was made feasible due to the purchase of 1,548 additional shares during the period in question, which served as the time frame. Raymond James Trust N.A. increased the percentage of Kraft Heinz shares it owned by 4.0 percent during the first three months of the current year. The total number of shares of the company’s stock that Raymond James Trust N.A. owns has increased to 15,846, with a value of $624,000. This represents an increase in the number of shares the trust currently owns by 624. The value of Sei Investments Company’s holdings in Kraft Heinz rose by 208.7% over the first three months of the year. Sei Investments Co. now has a total of 116,373 shares after purchasing an additional 78,677 shares during the most recent period. The combined value of these 116,373 shares is $4,679,000. Last but certainly not least, Sequoia Financial Advisors LLC spent a total of $293,000 during the first quarter on the acquisition of a new investment in Kraft Heinz. Most of the company’s stock is owned by institutional investors and hedge funds, which account for 68.80% of the total share count.

According to some other recent information about the company, Executive Vice President Melissa Werneck sold 3,500 Kraft Heinz stock on January 9. When the shares were sold, they brought in a total of $148,365.00, corresponding to an average price paid for each share of $42.39, resulting in the total amount being $148,365.00. Because of the transaction, the executive vice president now has 266 583 shares of the company, which are currently valued at approximately $11,300,453.37. The transaction was disclosed in a document submitted to the SEC, which can be accessed on the organization’s website. 1.40 company insiders own a percent of the total shares currently outstanding.

When trading started on Thursday, the price of one share of NASDAQ: KHC stock was $39.66. The company’s moving average price over the past 200 days is $37.97, while the average price over the last 50 days is $39.99. The price of a share of stock in the Kraft Heinz Company went as low as $32.73 and as high as $44.87 over the previous year. The company’s market capitalization is currently sitting at $48.58 billion; it has a price-to-earnings ratio of 40.47, a price-to-earnings-to-growth ratio of 3.10, and a beta value of 0.73. The debt-to-equity ratio, current ratio, and quick assets ratio all come in at 0.40, but the ratio of quick assets comes in at 0.50.

The most recent earnings report for Kraft Heinz, which is publicly traded and can be found on the NASDAQ under the symbol KHC, was released on October 26. The company achieved earnings per share (EPS) for the quarter at $0.63, which was $0.08 higher than the average expectation of $0.55 per share. The company reported revenue for the quarter of $6.51 billion, significantly higher than the $6.30 billion the market anticipated it would report. In the case of Kraft Heinz, the return on equity was 6.84%, and the net margin for the company was 4.71%. The projections made by experts in the field of research indicate that the Kraft Heinz Company will generate profits of 2.7 cents per share throughout the current fiscal year.

In addition, the business recently announced and paid out a quarterly dividend, which was done so on Friday, December 30. On November 25 November 25, dividends of $0.40 per share were disbursed to shareholders who the company recognized as having ownership of the business. The dividend was disbursed to shareholders on November 23 and November 23, which was a Wednesday and also the month of November. This translates to a yield of 4.03% and a dividend payment of $1.60 yearly for every shareholder. At this time, the payout ratio for Kraft Heinz is calculated to be 163.27%.

KHC has been in contact with several brokerage firms and has solicited their feedback through comments. Morgan Stanley increased their target price on Kraft Heinz from $38.00 to $41.00 in a research report published on Tuesday, December 20. Additionally, an “equal weight” rating was given to the stock by the company. Since January 3 January 3, Wells Fargo & Company has been offering coverage of Kraft Heinz in the form of a research study. This coverage began on Tuesday. They ranked the company as having “equal weight” and concluded that the price objective should be set at 43 dollars. Deutsche Bank Aktiengesellschaft raised their recommendation for Kraft Heinz from a “buy” to a “strong buy” in a report on the company’s research that was made public on Tuesday, December 6.

Additionally, the company increased its price objective for the stock from $47.00 to $49.00. Piper Sandler disclosed their intention to reduce their target price for Kraft Heinz to $41.00 in a research note that was released on Wednesday, October 5. And finally, in a research note published on September 29, UBS Group announced that they had upgraded their rating on Kraft Heinz stock from “sell” to “neutral” and that they had set their price objective for the stock at $34.00. Five analysts have given the company a recommendation to buy its stock; six analysts have recommended that investors hold their shares; and a single analyst has recommended that investors sell their shares. The stock is currently given a rating of “Hold,” and market watchers forecast its price will rise to $42.17 in the not-too-distant future, according to information that Bloomberg.com compiled.

Tags

Leave a comment

Your email address will not be published. Required fields are marked *