Weaver Capital Management LLC Acquires New Stake in The Kraft Heinz Company (NASDAQ:KHC)

Weaver Capital Management LLC acquired a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 10,947 shares of the company’s stock, valued at approximately $384,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dupree Financial Group LLC acquired a new stake in shares of Kraft Heinz in the 3rd quarter worth $8,144,000. Eastern Bank acquired a new stake in shares of Kraft Heinz in the 3rd quarter worth $41,000. Sequoia Financial Advisors LLC increased its stake in shares of Kraft Heinz by 10.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 25,212 shares of the company’s stock worth $885,000 after acquiring an additional 2,446 shares during the last quarter. Oakworth Capital Inc. increased its stake in shares of Kraft Heinz by 372.0% in the 3rd quarter. Oakworth Capital Inc. now owns 1,501 shares of the company’s stock worth $53,000 after acquiring an additional 1,183 shares during the last quarter. Finally, Oldfield Partners LLP increased its stake in shares of Kraft Heinz by 15.2% in the 3rd quarter. Oldfield Partners LLP now owns 11,400 shares of the company’s stock worth $400,000 after acquiring an additional 1,500 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $35.64 on Wednesday. The business has a 50-day moving average of $35.25 and a 200 day moving average of $34.92. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The stock has a market capitalization of $43.28 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a 12 month low of $31.08 and a 12 month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. As a group, sell-side analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.49%. The ex-dividend date was Friday, August 30th. Kraft Heinz’s payout ratio is presently 69.87%.

Insider Transactions at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the firm’s 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 sale, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KHC. The Goldman Sachs Group began coverage on Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their price objective 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. Wells Fargo & Company raised their price objective on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Barclays raised their price objective on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and an average target price of $37.55.

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.