The Kraft Heinz Company (NASDAQ:KHC) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers grew its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 387,414 shares of the company’s stock after purchasing an additional 9,930 shares during the period. Cetera Investment Advisers’ holdings in Kraft Heinz were worth $12,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new stake in shares of Kraft Heinz in the 1st quarter worth approximately $27,000. Asset Dedication LLC lifted its position in Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares during the period. Transcendent Capital Group LLC bought a new position in Kraft Heinz during the 4th quarter valued at $38,000. Hantz Financial Services Inc. acquired a new stake in Kraft Heinz in the 2nd quarter valued at about $34,000. Finally, Valley Wealth Managers Inc. increased its holdings in shares of Kraft Heinz by 46.4% in the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after buying an additional 340 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $34.59 on Friday. The firm has a market cap of $42.00 billion, a P/E ratio of 15.10, a PEG ratio of 3.39 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The stock’s 50-day moving average is $35.12 and its two-hundred day moving average is $35.04.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates 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. Analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KHC. JPMorgan Chase & Co. reduced their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Evercore ISI cut their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Piper Sandler reduced their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. The Goldman Sachs Group started coverage on shares of Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 price objective on the stock. Finally, Bank of America lowered their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and a consensus price target of $37.45.

Insider Buying and Selling at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Company Profile

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.