Econ Financial Services Corp Buys Shares of 68,371 Kraft Heinz Company $KHC

Econ Financial Services Corp bought a new position in shares of Kraft Heinz Company (NASDAQ:KHC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 68,371 shares of the company’s stock, valued at approximately $1,780,000.

Several other hedge funds also recently made changes to their positions in KHC. Rakuten Securities Inc. lifted its holdings in Kraft Heinz by 172.4% during the 2nd quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock worth $32,000 after purchasing an additional 788 shares in the last quarter. Cape Investment Advisory Inc. increased its position in shares of Kraft Heinz by 164.7% during the second quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock valued at $33,000 after buying an additional 807 shares during the period. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Kraft Heinz in the second quarter worth about $39,000. Banque Transatlantique SA bought a new position in shares of Kraft Heinz in the first quarter valued at approximately $40,000. Finally, Hilltop National Bank purchased a new position in Kraft Heinz during the second quarter valued at approximately $41,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Trading Down 0.7%

KHC stock opened at $24.25 on Friday. The company has a market capitalization of $28.70 billion, a PE ratio of -6.50 and a beta of 0.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.13. Kraft Heinz Company has a one year low of $23.60 and a one year high of $33.35. The company’s 50 day moving average price is $24.65 and its two-hundred day moving average price is $25.99.

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

Kraft Heinz Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, November 28th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Friday, November 28th. Kraft Heinz’s payout ratio is -42.90%.

Insider Buying and Selling at Kraft Heinz

In related news, insider Miguel Patricio sold 125,000 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the completion of the sale, the insider directly owned 686,817 shares in the company, valued at $17,046,797.94. This represents a 15.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

KHC has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Kraft Heinz from $27.00 to $26.00 in a research note on Thursday, October 30th. The Goldman Sachs Group reduced their target price on Kraft Heinz from $30.00 to $27.00 in a research report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Kraft Heinz in a research report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Finally, Zacks Research downgraded shares of Kraft Heinz from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $26.63.

Kraft Heinz Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.