GWM Advisors LLC reduced its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 12.3% in the third quarter, Holdings Channel reports. The institutional investor owned 6,492 shares of the company’s stock after selling 907 shares during the quarter. GWM Advisors LLC’s holdings in Kraft Heinz were worth $358,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the stock. Integrated Investment Consultants LLC increased its position in Kraft Heinz by 133.5% during the 2nd quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock valued at $106,000 after purchasing an additional 965 shares during the period. Stevens First Principles Investment Advisors purchased a new position in Kraft Heinz during the 2nd quarter valued at $108,000. Mainstay Capital Management LLC ADV increased its position in Kraft Heinz by 5,429.3% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,414 shares of the company’s stock valued at $108,000 after purchasing an additional 6,298 shares during the period. Kiley Juergens Wealth Management LLC purchased a new position in Kraft Heinz during the 2nd quarter valued at $113,000. Finally, CSat Investment Advisory L.P. purchased a new position in Kraft Heinz during the 2nd quarter valued at $120,000. Institutional investors own 63.22% of the company’s stock.
A number of research analysts have issued reports on KHC shares. Jefferies Financial Group reissued a “buy” rating and set a $75.00 price objective on shares of Kraft Heinz in a research report on Tuesday, August 7th. Bank of America set a $85.00 price objective on shares of Kraft Heinz and gave the company a “buy” rating in a research report on Monday, August 6th. Piper Jaffray Companies set a $62.00 target price on shares of Kraft Heinz and gave the stock a “buy” rating in a research report on Friday. UBS Group set a $65.00 target price on shares of Kraft Heinz and gave the stock a “buy” rating in a research report on Friday. Finally, Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $67.31.
NASDAQ:KHC opened at $52.39 on Tuesday. The stock has a market capitalization of $61.85 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.81 and a beta of 0.45. The company has a current ratio of 1.00, a quick ratio of 0.57 and a debt-to-equity ratio of 0.47. Kraft Heinz Co has a 1-year low of $50.41 and a 1-year high of $82.48.
Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, November 1st. The company reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.03). The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.31 billion. Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 earnings per share. On average, analysts forecast that Kraft Heinz Co will post 3.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 16th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Thursday, November 15th. Kraft Heinz’s dividend payout ratio is presently 70.42%.
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About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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