Raymond James & Associates Sells 17,034 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Raymond James & Associates trimmed its position in The Kraft Heinz Company (NASDAQ:KHC) by 2.0% in the third quarter, according to its most recent 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.

A number of other institutional investors have also added to or reduced their stakes in KHC. MADDEN SECURITIES Corp raised its holdings in shares of Kraft Heinz by 2.4% in the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock worth $448,000 after acquiring an additional 303 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of Kraft Heinz by 2.5% in the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after purchasing an additional 314 shares in the last quarter. Axiom Advisory LLC boosted its position in shares of Kraft Heinz by 5.2% during the third quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock valued at $227,000 after buying an additional 327 shares during the last quarter. Lorne Steinberg Wealth Management Inc. grew its holdings in Kraft Heinz by 0.3% during the first 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 position in Kraft Heinz by 3.8% in the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock valued at $300,000 after buying an additional 339 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on KHC shares. The Goldman Sachs Group assumed 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 for the company. Evercore ISI decreased their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Barclays boosted their target price on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their price target on 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, JPMorgan Chase & Co. reduced their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.55.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz 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 completion of the transaction, the insider now owns 143,970 shares of the company’s stock, valued at $5,182,920. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is currently owned by insiders.

Kraft Heinz Price Performance

NASDAQ KHC opened at $35.50 on Thursday. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The company has a market cap of $43.11 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a 52 week low of $31.08 and a 52 week high of $38.96. The firm’s 50-day simple moving average is $35.27 and its two-hundred day simple moving average is $34.93.

Kraft Heinz (NASDAQ:KHC) last announced 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 net margin of 7.30% and a return on equity of 7.38%. The company had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the prior year, the company posted $0.79 EPS. Kraft Heinz’s revenue was down 3.3% compared to the same quarter last year. Research analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.51%. Kraft Heinz’s 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.