Wealth Enhancement Advisory Services LLC Raises Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Wealth Enhancement Advisory Services LLC grew its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,455 shares of the company’s stock after acquiring an additional 2,634 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Kraft Heinz were worth $2,614,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Arkadios Wealth Advisors lifted its holdings in shares of Kraft Heinz by 3.2% in the third quarter. Arkadios Wealth Advisors now owns 21,624 shares of the company’s stock worth $759,000 after buying an additional 675 shares in the last quarter. Forsta AP Fonden lifted its stake in Kraft Heinz by 9.7% in the 3rd quarter. Forsta AP Fonden now owns 284,800 shares of the company’s stock worth $9,999,000 after purchasing an additional 25,100 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Kraft Heinz by 11.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 349,300 shares of the company’s stock valued at $12,355,000 after purchasing an additional 37,171 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Kraft Heinz by 0.5% during the third quarter. Louisiana State Employees Retirement System now owns 141,900 shares of the company’s stock valued at $4,982,000 after purchasing an additional 700 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Kraft Heinz by 37.4% in the third quarter. Allworth Financial LP now owns 13,580 shares of the company’s stock worth $477,000 after purchasing an additional 3,695 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC opened at $33.49 on Friday. The firm’s 50 day simple moving average is $35.15 and its 200-day simple moving average is $34.83. The firm has a market cap of $40.49 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 3.30 and a beta of 0.49. The Kraft Heinz Company has a one year low of $31.58 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.78%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KHC. Bank of America reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI reduced their target price 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. JPMorgan Chase & Co. lowered their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. The Goldman Sachs Group reduced their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the company from $39.00 to $35.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and an average target price of $37.15.

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.