Raymond James & Associates Sells 17,034 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Raymond James & Associates reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 841,455 shares of the company’s stock after selling 17,034 shares during the quarter. Raymond James & Associates’ holdings in Kraft Heinz were worth $29,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Park Avenue Securities LLC lifted its stake in Kraft Heinz by 10.5% during the first quarter. Park Avenue Securities LLC now owns 28,796 shares of the company’s stock worth $1,063,000 after purchasing an additional 2,733 shares during the last quarter. Brookstone Capital Management boosted its stake in Kraft Heinz by 166.7% in the first quarter. Brookstone Capital Management now owns 72,083 shares of the company’s stock worth $2,660,000 after buying an additional 45,058 shares in the last quarter. Janiczek Wealth Management LLC grew its holdings in shares of Kraft Heinz by 409.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 1,187 shares of the company’s stock valued at $44,000 after purchasing an additional 954 shares during the last quarter. Hennessy Advisors Inc. grew its stake in shares of Kraft Heinz by 8.7% during the first quarter. Hennessy Advisors Inc. now owns 138,900 shares of the company’s stock valued at $5,125,000 after buying an additional 11,100 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its stake in Kraft Heinz by 16.0% in the 1st quarter. Financial Management Professionals Inc. now owns 8,931 shares of the company’s stock worth $330,000 after purchasing an additional 1,231 shares during the period. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $35.50 on Thursday. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average is $35.27 and its 200 day moving average is $34.93. The Kraft Heinz Company has a twelve month low of $31.08 and a twelve month high of $38.96. The company has a market capitalization of $43.11 billion, a P/E ratio of 15.50, a PEG ratio of 3.39 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. Kraft Heinz’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS. On average, equities research analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.40 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.51%. Kraft Heinz’s payout ratio is currently 69.87%.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction on Friday, August 2nd. The stock was 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 owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of analyst reports. Barclays increased their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft decreased their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Evercore ISI reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and an average price target of $37.55.

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.