Philip James Wealth Mangement LLC Makes New Investment in The Kraft Heinz Company (NASDAQ:KHC)

Philip James Wealth Mangement LLC bought a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) during the third quarter, HoldingsChannel.com reports. The firm bought 175,988 shares of the company’s stock, valued at approximately $6,179,000. Kraft Heinz accounts for approximately 0.8% of Philip James Wealth Mangement LLC’s portfolio, making the stock its 29th biggest position.

Several other institutional investors have also made changes to their positions in KHC. Norden Group LLC acquired a new position in shares of Kraft Heinz in the 1st quarter valued at approximately $331,000. Jennison Associates LLC lifted its stake in Kraft Heinz by 34.6% during the first quarter. Jennison Associates LLC now owns 12,527 shares of the company’s stock worth $462,000 after purchasing an additional 3,220 shares during the last quarter. Empirical Finance LLC lifted its position in shares of Kraft Heinz by 3.8% during the 1st quarter. Empirical Finance LLC now owns 26,613 shares of the company’s stock worth $982,000 after buying an additional 964 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Kraft Heinz by 9.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 86,383 shares of the company’s stock valued at $3,188,000 after buying an additional 7,604 shares in the last quarter. Finally, Empowered Funds LLC grew its position in Kraft Heinz by 116.9% in the first quarter. Empowered Funds LLC now owns 48,881 shares of the company’s stock valued at $1,804,000 after acquiring an additional 26,344 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Evercore ISI dropped their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Barclays reduced their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Piper Sandler cut their price target on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Wells Fargo & Company upped their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.25.

Insider Transactions at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.37% of the company’s stock.

Kraft Heinz Trading Down 0.1 %

Shares of KHC traded down $0.04 during trading hours on Friday, hitting $32.78. 487,104 shares of the stock were exchanged, compared to its average volume of 7,761,625. The firm has a market capitalization of $39.64 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 3.81 and a beta of 0.49. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The Kraft Heinz Company has a fifty-two week low of $31.58 and a fifty-two week high of $38.96. The business has a 50-day moving average of $35.01 and a 200-day moving average of $34.74.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. During the same period last year, the business posted $0.72 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. On average, research analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

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.