Global Wealth Management Investment Advisory Inc. grew its stake in Kraft Heinz Company (NASDAQ:KHC – Free Report) by 27.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 203,491 shares of the company’s stock after purchasing an additional 43,335 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Kraft Heinz were worth $4,623,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC acquired a new position in Kraft Heinz during the 1st quarter worth approximately $27,000. Hara Capital LLC bought a new position in Kraft Heinz in the 2nd quarter valued at approximately $29,000. Fiduciary Financial Advisors bought a new position in Kraft Heinz in the 2nd quarter valued at approximately $33,000. Reyes Financial Architecture Inc. boosted its position in Kraft Heinz by 5,820.8% in the third quarter. Reyes Financial Architecture Inc. now owns 1,421 shares of the company’s stock valued at $32,000 after buying an additional 1,397 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in Kraft Heinz in the second quarter valued at approximately $34,000. 78.17% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. Evercore set a $24.00 target price on shares of Kraft Heinz in a research note on Thursday, August 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $32.00 price target on shares of Kraft Heinz in a research note on Thursday, September 24th. JPMorgan Chase & Co. dropped their price target on Kraft Heinz from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Tuesday, October 20th. Piper Sandler raised their price objective on Kraft Heinz from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, TD Cowen restated a “hold” rating and set a $22.00 price objective on shares of Kraft Heinz in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of “Reduce” and an average price target of $23.80.
Get Our Latest Analysis on Kraft Heinz
Kraft Heinz Stock Down 0.8%
Shares of NASDAQ KHC opened at $24.41 on Tuesday. The company has a 50 day simple moving average of $23.98 and a 200 day simple moving average of $23.93. The firm has a market cap of $28.90 billion, a PE ratio of -8.54, a price-to-earnings-growth ratio of 2.99 and a beta of 0.12. Kraft Heinz Company has a 1 year low of $21.03 and a 1 year high of $28.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.06 and a quick ratio of 0.68.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.42 by $0.11. Kraft Heinz had a negative net margin of 13.64% and a positive return on equity of 7.10%. The business had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same period last year, the company earned $0.61 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts forecast that Kraft Heinz Company will post 2.06 EPS for the current year.
Kraft Heinz Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Friday, December 4th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.60 annualized dividend and a dividend yield of 6.6%. Kraft Heinz’s dividend payout ratio (DPR) is presently -54.79%.
About Kraft Heinz
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