Raymond James & Associates Lowers Position in The Kraft Heinz Company (NASDAQ:KHC)

Raymond James & Associates cut its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 841,455 shares of the company's stock after selling 17,034 shares during the period. Raymond James & Associates owned approximately 0.07% of Kraft Heinz worth $29,543,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MADDEN SECURITIES Corp raised its holdings in Kraft Heinz by 2.4% in the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company's stock valued at $448,000 after acquiring an additional 303 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company's stock worth $419,000 after buying an additional 314 shares in the last quarter. Axiom Advisory LLC raised its holdings in shares of Kraft Heinz by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company's stock worth $227,000 after buying an additional 327 shares in the last quarter. Lorne Steinberg Wealth Management Inc. raised its holdings in shares of Kraft Heinz by 0.3% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company's stock worth $4,044,000 after buying an additional 335 shares in the last quarter. Finally, Norden Group LLC raised its holdings in shares of Kraft Heinz by 3.8% during the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company's stock worth $300,000 after buying an additional 339 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the company's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

Kraft Heinz Trading Down 1.3 %

Shares of NASDAQ KHC traded down $0.47 during trading on Thursday, reaching $35.03. The company had a trading volume of 7,976,645 shares, compared to its average volume of 7,748,048. The company's fifty day moving average price is $35.27 and its 200-day moving average price is $34.93. The Kraft Heinz Company has a 12 month low of $31.08 and a 12 month high of $38.96. The stock has a market cap of $42.54 billion, a P/E ratio of 15.30, a PEG ratio of 3.39 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The business's revenue was down 3.3% on a year-over-year basis. As a group, research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.57%. Kraft Heinz's payout ratio is 69.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Citigroup lowered their price target on Kraft Heinz from $41.00 to $39.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lowered their price target on Kraft Heinz from $43.00 to $39.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Evercore ISI lowered their target price on Kraft Heinz from $42.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company upped their target price on Kraft Heinz from $34.00 to $35.00 and gave the stock an "equal weight" rating in a report on Thursday, August 1st. Finally, Barclays upped their target price on Kraft Heinz from $34.00 to $36.00 and gave the stock an "equal weight" rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Kraft Heinz currently has a consensus rating of "Hold" and an average price target of $37.55.

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.