Alpha Omega Wealth Management LLC Reduces Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Alpha Omega Wealth Management LLC reduced its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 13.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,346 shares of the company’s stock after selling 1,890 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Kraft Heinz were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Belpointe Asset Management LLC purchased a new position in shares of Kraft Heinz during the 4th quarter worth about $252,000. Tower Research Capital LLC TRC grew its stake in Kraft Heinz by 120.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after acquiring an additional 75,149 shares in the last quarter. Cetera Advisor Networks LLC grew its stake in Kraft Heinz by 5.2% in the 4th quarter. Cetera Advisor Networks LLC now owns 191,604 shares of the company’s stock worth $7,086,000 after acquiring an additional 9,470 shares in the last quarter. Pinebridge Investments L.P. grew its stake in Kraft Heinz by 78.2% in the 4th quarter. Pinebridge Investments L.P. now owns 74,638 shares of the company’s stock worth $2,760,000 after acquiring an additional 32,755 shares in the last quarter. Finally, Stephens Inc. AR grew its stake in Kraft Heinz by 11.2% in the 4th quarter. Stephens Inc. AR now owns 26,491 shares of the company’s stock worth $980,000 after acquiring an additional 2,662 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on KHC. The Goldman Sachs Group began coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 target price on the stock. Evercore ISI dropped their target price 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. Bank of America lowered their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price target 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average price target of $37.45.

Kraft Heinz Stock Up 1.2 %

NASDAQ:KHC traded up $0.42 during midday trading on Friday, reaching $34.59. 4,808,768 shares of the stock traded hands, compared to its average volume of 7,901,155. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96. The stock has a market capitalization of $42.00 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The business has a 50-day moving average of $35.12 and a two-hundred day moving average of $35.04.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the business posted $0.79 EPS. Kraft Heinz’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.63%. Kraft Heinz’s payout ratio is 69.87%.

Insider Buying and Selling at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by company insiders.

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.