Cerity Partners LLC Has $13.22 Million Stake in Kraft Heinz Company $KHC

Cerity Partners LLC raised its holdings in Kraft Heinz Company (NASDAQ:KHC) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 512,057 shares of the company’s stock after buying an additional 20,573 shares during the period. Cerity Partners LLC’s holdings in Kraft Heinz were worth $13,221,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its holdings in Kraft Heinz by 40.1% during the first quarter. Benjamin Edwards Inc. now owns 25,448 shares of the company’s stock worth $774,000 after acquiring an additional 7,282 shares in the last quarter. Nuveen LLC acquired a new position in shares of Kraft Heinz during the 1st quarter worth approximately $61,110,000. Independent Advisor Alliance increased its position in shares of Kraft Heinz by 4.3% during the 1st quarter. Independent Advisor Alliance now owns 41,552 shares of the company’s stock worth $1,264,000 after purchasing an additional 1,713 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Kraft Heinz by 6.4% during the 1st quarter. Public Sector Pension Investment Board now owns 113,947 shares of the company’s stock worth $3,467,000 after purchasing an additional 6,869 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Kraft Heinz by 24.9% in the 1st quarter. HighTower Advisors LLC now owns 323,161 shares of the company’s stock valued at $9,834,000 after buying an additional 64,449 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Stock Up 0.5%

Kraft Heinz stock opened at $24.35 on Thursday. The company’s 50-day moving average price is $25.01 and its two-hundred day moving average price is $26.24. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The stock has a market cap of $28.82 billion, a P/E ratio of -6.53 and a beta of 0.09. Kraft Heinz Company has a twelve month low of $23.70 and a twelve month high of $33.35.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. The company had revenue of $6.39 billion during the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%. As a group, analysts expect that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Friday, November 28th. Kraft Heinz’s dividend payout ratio is currently -42.90%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KHC. Stifel Nicolaus lowered their target price on shares of Kraft Heinz from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, September 3rd. Wells Fargo & Company decreased their price objective on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. HSBC lowered their price objective on shares of Kraft Heinz from $29.00 to $27.00 in a research note on Thursday, October 30th. Sanford C. Bernstein cut their target price on shares of Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating for the company in a research note on Tuesday, October 28th. Finally, Piper Sandler lowered their price target on Kraft Heinz from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $26.58.

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.