Raymond James Trust N.A. Lowers Position in The Kraft Heinz Company (NASDAQ:KHC)

Raymond James Trust N.A. reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,700 shares of the company’s stock after selling 780 shares during the period. Raymond James Trust N.A.’s holdings in Kraft Heinz were worth $1,247,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KHC. NBT Bank N A NY raised its stake in shares of Kraft Heinz by 2.2% during the 1st quarter. NBT Bank N A NY now owns 12,785 shares of the company’s stock worth $472,000 after buying an additional 270 shares in the last quarter. Welch Group LLC raised its position in Kraft Heinz by 1.9% in the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock worth $549,000 after acquiring an additional 272 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Kraft Heinz by 13.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock valued at $89,000 after acquiring an additional 282 shares during the period. Integrated Advisors Network LLC boosted its position in shares of Kraft Heinz by 2.4% during the 4th quarter. Integrated Advisors Network LLC now owns 12,881 shares of the company’s stock worth $476,000 after purchasing an additional 301 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its stake in shares of Kraft Heinz by 2.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 14,663 shares of the company’s stock worth $542,000 after purchasing an additional 307 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Trading Up 0.8 %

NASDAQ:KHC traded up $0.27 on Monday, reaching $36.18. The stock had a trading volume of 475,349 shares, compared to its average volume of 7,935,923. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96. The company has a market cap of $43.93 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 3.52 and a beta of 0.53. The firm’s fifty day moving average is $33.54 and its two-hundred day moving average is $35.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.61.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 earnings per share. Equities analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Analyst Upgrades and Downgrades

KHC has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Evercore ISI decreased their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. Barclays boosted their target price on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company raised their price target on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.31.

Insider Activity at Kraft Heinz

In other 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 transaction of $146,736.00. Following the transaction, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Kraft Heinz Company 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.