The Kraft Heinz Company (NASDAQ:KHC) Holdings Raised by Wealth Advisors of Tampa Bay LLC

Wealth Advisors of Tampa Bay LLC lifted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,538 shares of the company’s stock after purchasing an additional 2,400 shares during the quarter. Wealth Advisors of Tampa Bay LLC’s holdings in Kraft Heinz were worth $2,434,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Level Four Advisory Services LLC lifted its holdings in Kraft Heinz by 21.6% during the 4th quarter. Level Four Advisory Services LLC now owns 8,802 shares of the company’s stock worth $325,000 after buying an additional 1,562 shares in the last quarter. Norges Bank bought a new position in Kraft Heinz in the fourth quarter valued at approximately $13,417,000. PNC Financial Services Group Inc. grew its holdings in Kraft Heinz by 3.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 210,297 shares of the company’s stock worth $7,777,000 after acquiring an additional 6,135 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Kraft Heinz by 4.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 13,888 shares of the company’s stock valued at $514,000 after acquiring an additional 586 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd lifted its stake in shares of Kraft Heinz by 74.2% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 117,382 shares of the company’s stock valued at $4,341,000 after purchasing an additional 50,000 shares during the period. Institutional investors own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Down 0.4 %

Shares of KHC opened at $34.99 on Friday. The business’s fifty day moving average is $34.74 and its 200-day moving average is $35.05. The firm has a market cap of $42.49 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 3.43 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $6.50 billion for 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 firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.79 EPS. Equities analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.57%. Kraft Heinz’s payout ratio is presently 69.87%.

Analyst Ratings Changes

A number of equities research analysts recently commented on KHC shares. The Goldman Sachs Group began coverage on Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. Piper Sandler reduced their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Barclays lifted their price target 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. Wells Fargo & Company boosted their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus target price of $37.50.

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.