Rand Wealth LLC cut its position in Kraft Heinz Co (NASDAQ:KHC) by 29.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,670 shares of the company’s stock after selling 1,974 shares during the period. Rand Wealth LLC’s holdings in Kraft Heinz were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Captrust Financial Advisors grew its stake in Kraft Heinz by 8.3% during the second quarter. Captrust Financial Advisors now owns 11,404 shares of the company’s stock valued at $716,000 after acquiring an additional 870 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in Kraft Heinz by 64.7% during the second quarter. Chicago Partners Investment Group LLC now owns 2,278 shares of the company’s stock valued at $143,000 after purchasing an additional 895 shares during the last quarter. Redmond Asset Management LLC lifted its position in Kraft Heinz by 20.1% during the second quarter. Redmond Asset Management LLC now owns 5,454 shares of the company’s stock valued at $343,000 after purchasing an additional 912 shares during the last quarter. Cobiz Wealth LLC lifted its position in Kraft Heinz by 1.8% during the third quarter. Cobiz Wealth LLC now owns 50,987 shares of the company’s stock valued at $2,810,000 after purchasing an additional 920 shares during the last quarter. Finally, Andesa Financial Management Inc. lifted its position in Kraft Heinz by 6.6% during the third quarter. Andesa Financial Management Inc. now owns 15,050 shares of the company’s stock valued at $832,000 after purchasing an additional 933 shares during the last quarter. 62.63% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have commented on the stock. BidaskClub upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Piper Jaffray Companies set a $62.00 price objective on shares of Kraft Heinz and gave the company a “buy” rating in a research report on Friday, November 2nd. Morgan Stanley set a $49.00 price objective on shares of Kraft Heinz and gave the company a “sell” rating in a research report on Wednesday, November 7th. Berenberg Bank set a $64.00 price objective on shares of Kraft Heinz and gave the company a “buy” rating in a research report on Tuesday, November 20th. Finally, Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Six analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $66.89.

Kraft Heinz stock opened at $49.98 on Wednesday. The stock has a market capitalization of $62.34 billion, a PE ratio of 14.08, a PEG ratio of 2.30 and a beta of 0.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.00 and a quick ratio of 0.57. Kraft Heinz Co has a 12-month low of $49.86 and a 12-month high of $82.48.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, November 1st. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.03). The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.31 billion. Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. Kraft Heinz’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. Research analysts forecast that Kraft Heinz Co will post 3.64 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 16th will be issued a $0.625 dividend. The ex-dividend date is Thursday, November 15th. This represents a $2.50 annualized dividend and a dividend yield of 5.00%. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.42%.

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Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

Further Reading: Analyst Ratings

Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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