NewEdge Advisors LLC Buys 6,469 Shares of The Kraft Heinz Company (NASDAQ:KHC)

NewEdge Advisors LLC boosted its position in The Kraft Heinz Company (NASDAQ:KHC) by 14.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,630 shares of the company’s stock after purchasing an additional 6,469 shares during the period. NewEdge Advisors LLC’s holdings in Kraft Heinz were worth $1,664,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in Kraft Heinz by 11.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 70,401 shares of the company’s stock worth $2,268,000 after purchasing an additional 7,010 shares during the period. Creative Planning boosted its holdings in Kraft Heinz by 79.0% in the 2nd quarter. Creative Planning now owns 209,567 shares of the company’s stock worth $6,752,000 after buying an additional 92,495 shares during the period. Buck Wealth Strategies LLC bought a new position in Kraft Heinz in the 2nd quarter worth approximately $594,000. Aviso Wealth Management grew its stake in Kraft Heinz by 15.2% in the 2nd quarter. Aviso Wealth Management now owns 58,059 shares of the company’s stock valued at $1,871,000 after buying an additional 7,656 shares in the last quarter. Finally, Arkos Global Advisors purchased a new stake in shares of Kraft Heinz during the second quarter worth $260,000. 78.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Citigroup reduced their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They set a “sell” rating and a $34.00 price objective for the company. Finally, Evercore ISI lowered 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Kraft Heinz presently has an average rating of “Hold” and an average target price of $37.45.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Kraft Heinz Price Performance

KHC stock opened at $34.59 on Friday. The firm has a 50 day simple moving average of $35.12 and a two-hundred day simple moving average of $35.04. The stock has a market cap of $42.00 billion, a PE ratio of 15.10, a P/E/G ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53.

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

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued 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 dividend yield of 4.63%. Kraft Heinz’s dividend payout ratio is 69.87%.

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.