Raymond James Financial Services Advisors Inc. Has $11.81 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

Raymond James Financial Services Advisors Inc. reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 366,626 shares of the company’s stock after selling 15,004 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Kraft Heinz were worth $11,813,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KHC. Steward Partners Investment Solutions LLC acquired a new position in shares of Kraft Heinz in the fourth quarter worth $25,000. New Covenant Trust Company N.A. acquired a new position in shares of Kraft Heinz in the first quarter worth $27,000. Transcendent Capital Group LLC acquired a new position in shares of Kraft Heinz in the fourth quarter worth $38,000. Janiczek Wealth Management LLC increased its stake in shares of Kraft Heinz by 409.4% in the first quarter. Janiczek Wealth Management LLC now owns 1,187 shares of the company’s stock worth $44,000 after acquiring an additional 954 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its holdings in Kraft Heinz by 128.9% in the first quarter. AlphaMark Advisors LLC now owns 1,181 shares of the company’s stock worth $44,000 after purchasing an additional 665 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KHC has been the subject of a number of recent research reports. Evercore ISI decreased their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Piper Sandler decreased their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. Citigroup decreased their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Barclays upped their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus target price of $37.31.

Kraft Heinz Stock Up 0.2 %

NASDAQ KHC opened at $35.52 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.61 and a current ratio of 1.01. The firm has a 50-day simple moving average of $33.47 and a 200 day simple moving average of $35.08. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. The stock has a market cap of $43.13 billion, a PE ratio of 15.51, a PEG ratio of 3.52 and a beta of 0.53.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the business posted $0.79 earnings per share. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, research analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Insider Buying and Selling

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the transaction, the insider now owns 143,970 shares of the company’s stock, valued at $5,182,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

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.