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Raymond James Trust N.A. Trims Position in The Kraft Heinz Company (NASDAQ:KHC)

Defense World · Sep 27, 2022 05:02

Raymond James Trust N.A. lessened its position in shares of The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 22.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,316 shares of the company's stock after selling 3,530 shares during the quarter. Raymond James Trust N.A.'s holdings in Kraft Heinz were worth $470,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brookstone Capital Management increased its position in Kraft Heinz by 9.0% during the first quarter. Brookstone Capital Management now owns 23,338 shares of the company's stock valued at $963,000 after acquiring an additional 1,934 shares during the last quarter. Prudential PLC increased its position in Kraft Heinz by 20.2% in the first quarter. Prudential PLC now owns 84,622 shares of the company's stock worth $3,333,000 after buying an additional 14,205 shares in the last quarter. AIA Group Ltd increased its position in Kraft Heinz by 45.0% in the first quarter. AIA Group Ltd now owns 16,705 shares of the company's stock worth $658,000 after buying an additional 5,187 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Kraft Heinz in the first quarter worth about $4,067,000. Finally, Madison Asset Management LLC purchased a new stake in Kraft Heinz in the first quarter worth about $299,000. Hedge funds and other institutional investors own 67.03% of the company's stock.

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Kraft Heinz Price Performance

Shares of Kraft Heinz stock opened at $34.06 on Tuesday. The stock has a 50 day moving average of $37.17 and a 200 day moving average of $38.69. The Kraft Heinz Company has a 12 month low of $32.78 and a 12 month high of $44.87. The firm has a market cap of $41.74 billion, a PE ratio of 27.92, a PEG ratio of 2.55 and a beta of 0.70. The company has a current ratio of 0.89, a quick ratio of 0.52 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.03. Kraft Heinz had a return on equity of 6.82% and a net margin of 5.92%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The firm's revenue was down .9% on a year-over-year basis. On average, research analysts expect that The Kraft Heinz Company will post 2.66 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, August 26th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend was Thursday, August 25th. Kraft Heinz's payout ratio is presently 131.15%.

Insider Activity at Kraft Heinz

In related news, CAO Lande Rashida La sold 3,500 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $36.56, for a total transaction of $127,960.00. Following the completion of the transaction, the chief accounting officer now directly owns 266,627 shares of the company's stock, valued at $9,747,883.12. The sale was disclosed in a filing with the SEC, which is available through this link. In other Kraft Heinz news, CAO Lande Rashida La sold 3,500 shares of the business's stock in a transaction on Friday, July 29th. The shares were sold at an average price of $36.56, for a total transaction of $127,960.00. Following the transaction, the chief accounting officer now owns 266,627 shares in the company, valued at $9,747,883.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Vince Garlati sold 19,938 shares of the business's stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $38.43, for a total transaction of $766,217.34. Following the transaction, the vice president now owns 94,843 shares in the company, valued at approximately $3,644,816.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,438 shares of company stock valued at $2,044,977. Insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KHC. The Goldman Sachs Group restated an "upgrade" rating on shares of Kraft Heinz in a research report on Thursday, July 28th. Mizuho began coverage on Kraft Heinz in a research report on Monday, July 18th. They issued a "buy" rating and a $48.00 price target for the company. TheStreet cut Kraft Heinz from a "b" rating to a "c+" rating in a research report on Monday, September 19th. Deutsche Bank Aktiengesellschaft cut their target price on Kraft Heinz from $48.00 to $47.00 in a research report on Monday, July 18th. Finally, BMO Capital Markets upgraded Kraft Heinz from a "market perform" rating to an "outperform" rating and set a $46.00 target price for the company in a research report on Wednesday, June 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $40.44.

Kraft Heinz Profile

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The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.