Prospera Financial Services Inc Trims Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Prospera Financial Services Inc lowered its position in The Kraft Heinz Company (NASDAQ:KHC) by 6.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,122 shares of the company’s stock after selling 1,208 shares during the period. Prospera Financial Services Inc’s holdings in Kraft Heinz were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Fortitude Family Office LLC grew its stake in shares of Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares during the period. New Covenant Trust Company N.A. acquired a new stake in Kraft Heinz during the first quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new position in Kraft Heinz in the third quarter valued at $27,000. DiNuzzo Private Wealth Inc. raised its position in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after acquiring an additional 797 shares during the period. Finally, Asset Dedication LLC boosted its stake in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Buying and Selling

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

KHC has been the topic of a number of recent analyst reports. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. JPMorgan Chase & Co. cut 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. Wells Fargo & Company upped their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group dropped their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Finally, Evercore ISI decreased their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $36.55.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $31.81 on Friday. The Kraft Heinz Company has a fifty-two week low of $30.40 and a fifty-two week high of $38.96. The firm has a market capitalization of $38.46 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 3.55 and a beta of 0.49. The stock’s fifty day moving average is $34.08 and its two-hundred day moving average is $34.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06.

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

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Kraft Heinz 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.