First Horizon Advisors Inc. Buys 36,877 Shares of The Kraft Heinz Company (NASDAQ:KHC)

First Horizon Advisors Inc. grew its position in The Kraft Heinz Company (NASDAQ:KHC) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 464,351 shares of the company’s stock after purchasing an additional 36,877 shares during the period. First Horizon Advisors Inc.’s holdings in Kraft Heinz were worth $16,303,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. MADDEN SECURITIES Corp raised its holdings in shares of Kraft Heinz by 2.4% in the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after buying an additional 303 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of Kraft Heinz by 2.5% during the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after purchasing an additional 314 shares in the last quarter. Axiom Advisory LLC grew its stake 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 purchasing an additional 327 shares during the last quarter. Norden Group LLC lifted its holdings in Kraft Heinz by 3.8% during the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after buying an additional 339 shares in the last quarter. Finally, Valley Wealth Managers Inc. boosted its position in Kraft Heinz by 46.4% in the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after buying an additional 340 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

KHC has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. The Goldman Sachs Group lowered their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. cut their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Finally, Citigroup reduced their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.55.

Kraft Heinz Trading Down 1.6 %

NASDAQ:KHC opened at $30.58 on Wednesday. The business’s 50-day simple moving average is $34.33 and its 200-day simple moving average is $34.34. The Kraft Heinz Company has a fifty-two week low of $30.40 and a fifty-two week high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The stock has a market capitalization of $36.98 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 3.56 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. The company had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 earnings per share. Sell-side analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio is currently 144.14%.

Insider Buying and Selling

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by corporate 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.