Farther Finance Advisors LLC Buys 1,643 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Farther Finance Advisors LLC boosted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 21.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,447 shares of the company’s stock after acquiring an additional 1,643 shares during the period. Farther Finance Advisors LLC’s holdings in Kraft Heinz were worth $301,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Steward Partners Investment Solutions LLC bought a new stake in shares of Kraft Heinz during the 4th quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz during the first quarter valued at approximately $27,000. Hantz Financial Services Inc. bought a new stake in Kraft Heinz during the second quarter worth $34,000. Transcendent Capital Group LLC acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at $38,000. Finally, Centerpoint Advisors LLC increased its stake in shares of Kraft Heinz by 550.0% in the 2nd quarter. Centerpoint Advisors LLC now owns 1,300 shares of the company’s stock valued at $42,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

KHC stock opened at $36.13 on Friday. The company has a fifty day moving average price of $34.07 and a 200-day moving average price of $35.07. The company has a market capitalization of $43.87 billion, a P/E ratio of 15.78, a PEG ratio of 3.32 and a beta of 0.53. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. As a group, equities analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KHC shares. Evercore ISI reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, Barclays increased their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.31.

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.