EverSource Wealth Advisors LLC Buys 2,810 Shares of The Kraft Heinz Company (NASDAQ:KHC)

EverSource Wealth Advisors LLC lifted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 75.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,536 shares of the company’s stock after purchasing an additional 2,810 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Kraft Heinz were worth $252,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its stake in shares of Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after buying an additional 3,961,872 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Kraft Heinz by 346.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock worth $57,799,000 after purchasing an additional 1,179,863 shares during the period. Nordea Investment Management AB raised its holdings in shares of Kraft Heinz by 56.7% in the 1st quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after purchasing an additional 1,027,636 shares during the period. Swedbank AB bought a new stake in shares of Kraft Heinz in the 1st quarter worth approximately $25,298,000. Finally, Ilex Capital Partners UK LLP raised its holdings in shares of Kraft Heinz by 34.7% in the 1st quarter. Ilex Capital Partners UK LLP now owns 2,616,278 shares of the company’s stock worth $96,541,000 after purchasing an additional 674,436 shares during the period. Institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the transaction, the insider now directly owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KHC has been the topic of a number of analyst reports. Bank of America lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday. Citigroup reduced 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 17th. Finally, Evercore ISI reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.58.

Kraft Heinz Trading Up 1.9 %

KHC stock traded up $0.66 during trading on Friday, reaching $36.06. The company had a trading volume of 15,882,140 shares, compared to its average volume of 8,236,811. The company has a market cap of $43.60 billion, a P/E ratio of 15.75, a PEG ratio of 3.52 and a beta of 0.53. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.61. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The business has a 50 day moving average of $33.34 and a 200 day moving average of $35.30.

Kraft Heinz (NASDAQ:KHC) last posted 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 firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.44%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

About Kraft Heinz

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.