EverSource Wealth Advisors LLC Acquires 639 Shares of The Kraft Heinz Company (NASDAQ:KHC)

EverSource Wealth Advisors LLC raised its stake in The Kraft Heinz Company (NASDAQ:KHC) by 9.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,175 shares of the company’s stock after acquiring an additional 639 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Kraft Heinz were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in KHC. Steward Partners Investment Solutions LLC bought a new stake in shares of Kraft Heinz during the fourth quarter worth about $25,000. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz in the 1st quarter valued at approximately $27,000. Asset Dedication LLC raised its stake in shares of Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Kraft Heinz during the second quarter worth $34,000. Finally, Valley Wealth Managers Inc. grew its stake 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 worth $35,000 after purchasing an additional 340 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $34.52 on Thursday. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. The stock’s 50 day moving average is $34.88 and its 200-day moving average is $35.04. 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 firm has a market capitalization of $41.74 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 3.39 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm 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 business’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. Sell-side analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup cut their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Evercore ISI reduced their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 price target on the stock. Piper Sandler decreased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft cut 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 report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.45.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction that occurred 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 transaction, the insider now owns 143,970 shares of the company’s stock, valued at $5,182,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.