Avestar Capital LLC Raises Position in The Kraft Heinz Company (NASDAQ:KHC)

Avestar Capital LLC lifted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 12.3% during the third quarter, Holdings Channel reports. The fund owned 15,485 shares of the company’s stock after acquiring an additional 1,700 shares during the period. Avestar Capital LLC’s holdings in Kraft Heinz were worth $544,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC increased its position in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 529 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Kraft Heinz during the 1st quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Kraft Heinz in the 3rd quarter valued at about $27,000. DiNuzzo Private Wealth Inc. raised its position in shares of Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after acquiring an additional 797 shares in the last quarter. Finally, Asset Dedication LLC lifted its stake in Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

KHC has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. Citigroup cut their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Finally, Evercore ISI cut their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.55.

Kraft Heinz Trading Down 0.2 %

NASDAQ KHC opened at $31.97 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $38.66 billion, a P/E ratio of 28.80, a P/E/G ratio of 3.66 and a beta of 0.49. The Kraft Heinz Company has a 52-week low of $30.40 and a 52-week high of $38.96. The firm has a 50-day moving average price of $33.95 and a 200 day moving average price of $34.19.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) 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 business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. During the same period in the prior year, the business posted $0.72 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.00%. Kraft Heinz’s dividend payout ratio (DPR) is presently 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.