Envestnet Asset Management Inc. Raises Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Envestnet Asset Management Inc. lifted its stake in shares of The Kraft Heinz Company (NASDAQ:KHCGet Rating) by 20.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 427,617 shares of the company’s stock after acquiring an additional 72,320 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Kraft Heinz were worth $16,844,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Waldron Private Wealth LLC increased its position in shares of Kraft Heinz by 2.2% during the first quarter. Waldron Private Wealth LLC now owns 13,595 shares of the company’s stock worth $535,000 after acquiring an additional 293 shares during the period. Hodges Capital Management Inc. increased its holdings in Kraft Heinz by 1.9% during the fourth quarter. Hodges Capital Management Inc. now owns 15,961 shares of the company’s stock valued at $573,000 after buying an additional 300 shares during the period. SPC Financial Inc. increased its holdings in Kraft Heinz by 4.0% during the first quarter. SPC Financial Inc. now owns 7,714 shares of the company’s stock valued at $304,000 after buying an additional 300 shares during the period. Wealth Alliance Advisory Group LLC increased its holdings in Kraft Heinz by 5.4% during the first quarter. Wealth Alliance Advisory Group LLC now owns 6,077 shares of the company’s stock valued at $239,000 after buying an additional 311 shares during the period. Finally, Allworth Financial LP increased its holdings in Kraft Heinz by 3.6% during the first quarter. Allworth Financial LP now owns 9,036 shares of the company’s stock valued at $356,000 after buying an additional 312 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KHC has been the topic of several research reports. UBS Group lowered shares of Kraft Heinz from a “neutral” rating to a “sell” rating and cut their price objective for the company from $40.00 to $34.00 in a report on Thursday, May 26th. The Goldman Sachs Group reaffirmed an “upgrade” rating on shares of Kraft Heinz in a report on Thursday, July 28th. Stifel Nicolaus raised shares of Kraft Heinz from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Thursday, July 28th. They noted that the move was a valuation call. BMO Capital Markets raised shares of Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a report on Wednesday, June 22nd. Finally, Mizuho assumed coverage on shares of Kraft Heinz in a report on Monday, July 18th. They issued a “buy” rating and a $48.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $40.30.

Kraft Heinz Trading Down 0.8 %

NASDAQ:KHC opened at $37.03 on Friday. The Kraft Heinz Company has a 12 month low of $32.78 and a 12 month high of $44.87. The firm has a fifty day simple moving average of $37.57 and a 200-day simple moving average of $38.72. The company has a current ratio of 0.89, a quick ratio of 0.52 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $45.38 billion, a P/E ratio of 30.35, a PEG ratio of 2.77 and a beta of 0.73.

Kraft Heinz (NASDAQ:KHCGet Rating) last posted its earnings results on Wednesday, July 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.36 billion. Kraft Heinz had a net margin of 5.92% and a return on equity of 6.82%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, equities research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, August 26th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 25th. This represents a $1.60 dividend on an annualized basis and a yield of 4.32%. Kraft Heinz’s dividend payout ratio is presently 131.15%.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, CEO Miguel Patricio sold 259,958 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $44.28, for a total value of $11,510,940.24. Following the completion of the transaction, the chief executive officer now owns 1,897,433 shares in the company, valued at $84,018,333.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Kraft Heinz news, CEO Miguel Patricio sold 259,958 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $44.28, for a total value of $11,510,940.24. Following the completion of the transaction, the chief executive officer now owns 1,897,433 shares in the company, valued at $84,018,333.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lande Rashida La sold 3,500 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $36.56, for a total transaction of $127,960.00. Following the completion of the transaction, the chief accounting officer now owns 266,627 shares of the company’s stock, valued at approximately $9,747,883.12. The disclosure for this sale can be found here. Insiders sold 308,594 shares of company stock worth $13,299,438 over the last three months. Company insiders own 1.40% of the company’s stock.

About Kraft Heinz

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The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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