Sound Income Strategies LLC Has $8.57 Million Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Sound Income Strategies LLC grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 281,518 shares of the company’s stock after purchasing an additional 5,843 shares during the period. Sound Income Strategies LLC’s holdings in Kraft Heinz were worth $8,567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Generali Investments Management Co LLC acquired a new stake in shares of Kraft Heinz in the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Kraft Heinz in the 4th quarter worth about $29,000. OFI Invest Asset Management acquired a new stake in shares of Kraft Heinz in the 4th quarter worth about $36,000. Pinney & Scofield Inc. acquired a new stake in shares of Kraft Heinz in the 4th quarter worth about $38,000. Finally, Kennondale Capital Management LLC acquired a new stake in shares of Kraft Heinz in the 4th quarter worth about $45,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Cfra Research lowered shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 16th. Citigroup reiterated a “sell” rating and issued a $27.00 price objective (down previously from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Morgan Stanley initiated coverage on shares of Kraft Heinz in a research note on Monday, March 24th. They issued an “underweight” rating and a $29.00 price objective for the company. Wall Street Zen upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, The Goldman Sachs Group decreased their price objective on shares of Kraft Heinz from $27.00 to $25.00 and set a “sell” rating for the company in a research note on Monday, June 9th. Four equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.35.

Kraft Heinz Stock Down 1.4%

Kraft Heinz stock opened at $26.08 on Friday. The firm has a 50 day moving average price of $27.97 and a 200-day moving average price of $29.41. The company has a market capitalization of $30.87 billion, a P/E ratio of 11.54, a P/E/G ratio of 3.39 and a beta of 0.27. The Kraft Heinz Company has a twelve month low of $26.01 and a twelve month high of $36.53. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Kraft Heinz’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. As a group, equities analysts predict that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.13%. The ex-dividend date is Friday, May 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 73.06%.

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.