JFS Wealth Advisors LLC Raises Stake in The Kraft Heinz Company (NASDAQ:KHC)

JFS Wealth Advisors LLC boosted its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 95.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,305 shares of the company’s stock after purchasing an additional 3,564 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Kraft Heinz were worth $256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norden Group LLC purchased a new stake in shares of Kraft Heinz in the first quarter worth about $5,312,000. Kovack Advisors Inc. lifted its position in Kraft Heinz by 19.4% during the 1st quarter. Kovack Advisors Inc. now owns 8,493 shares of the company’s stock worth $313,000 after acquiring an additional 1,381 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in Kraft Heinz by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 63,048 shares of the company’s stock worth $2,309,000 after acquiring an additional 1,705 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Kraft Heinz by 346.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock valued at $57,799,000 after acquiring an additional 1,179,863 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Kraft Heinz by 11.1% during the first quarter. Janney Montgomery Scott LLC now owns 305,474 shares of the company’s stock valued at $11,272,000 after purchasing an additional 30,443 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Piper Sandler decreased their price objective on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday. Bank of America dropped their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $35.00 in a report on Thursday. Finally, Citigroup dropped their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $37.23.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $33.46 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $40.63 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 3.48 and a beta of 0.49. The Kraft Heinz Company has a twelve month low of $31.08 and a twelve month high of $38.96. The business has a 50 day simple moving average of $35.20 and a 200-day simple moving average of $34.85.

Kraft Heinz (NASDAQ:KHC) last released its 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. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 4.78%. 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.