Philip James Wealth Mangement LLC Takes $6.18 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

Philip James Wealth Mangement LLC purchased a new stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 175,988 shares of the company's stock, valued at approximately $6,179,000. Kraft Heinz makes up approximately 0.8% of Philip James Wealth Mangement LLC's investment portfolio, making the stock its 29th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Clifford Capital Partners LLC lifted its position in shares of Kraft Heinz by 21.4% in the second quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company's stock valued at $14,656,000 after buying an additional 80,101 shares during the last quarter. Lazard Asset Management LLC boosted its position in Kraft Heinz by 13.2% during the first quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company's stock worth $74,053,000 after purchasing an additional 234,783 shares during the period. Smith Thornton Advisors LLC acquired a new position in shares of Kraft Heinz in the second quarter valued at $654,000. MBB Public Markets I LLC bought a new position in shares of Kraft Heinz in the second quarter valued at about $2,001,000. Finally, Sei Investments Co. lifted its stake in shares of Kraft Heinz by 12.8% during the 2nd quarter. Sei Investments Co. now owns 760,222 shares of the company's stock worth $24,495,000 after buying an additional 86,311 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares of the company's stock, valued at approximately $5,626,122.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Kraft Heinz Price Performance

Shares of NASDAQ KHC traded up $0.18 during midday trading on Friday, reaching $33.00. 7,751,004 shares of the company were exchanged, compared to its average volume of 7,794,743. The Kraft Heinz Company has a one year low of $31.58 and a one year high of $38.96. The stock has a market cap of $39.90 billion, a P/E ratio of 29.73, a PEG ratio of 3.81 and a beta of 0.49. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock's 50-day moving average price is $34.92 and its 200-day moving average price is $34.69.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping 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 company had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.42 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The business's quarterly revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.85%. Kraft Heinz's dividend payout ratio (DPR) is presently 144.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on KHC shares. Evercore ISI decreased their target price on Kraft Heinz from $42.00 to $38.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. Mizuho dropped their target price on Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a "buy" rating to a "hold" rating and decreased their price target for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. The Goldman Sachs Group dropped their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a "sell" rating for the company in a research note on Thursday, October 31st. Finally, Stifel Nicolaus cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and lowered their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $37.25.

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.