First Horizon Advisors Inc. Acquires 62,033 Shares of Kraft Heinz Company $KHC

by · The Cerbat Gem

First Horizon Advisors Inc. grew its holdings in Kraft Heinz Company (NASDAQ:KHC – Free Report) by 9.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 748,895 shares of the company’s stock after acquiring an additional 62,033 shares during the quarter. First Horizon Advisors Inc.’s holdings in Kraft Heinz were worth $19,336,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wayfinding Financial LLC bought a new stake in shares of Kraft Heinz in the first quarter valued at about $33,000. Investment Management Corp VA ADV boosted its position in shares of Kraft Heinz by 141.7% in the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock valued at $35,000 after acquiring an additional 669 shares during the period. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Kraft Heinz in the second quarter valued at about $39,000. Banque Transatlantique SA bought a new stake in shares of Kraft Heinz in the first quarter valued at about $40,000. Finally, Hilltop National Bank acquired a new position in Kraft Heinz in the second quarter valued at about $41,000. Institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Sanford C. Bernstein dropped their price target on Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating for the company in a research note on Tuesday, October 28th. DZ Bank raised Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Deutsche Bank Aktiengesellschaft lowered their target price on Kraft Heinz from $27.00 to $26.00 in a research note on Thursday, October 30th. TD Cowen lowered their target price on Kraft Heinz from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Kraft Heinz in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $26.58.

Get Our Latest Report on KHC

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $24.17 on Wednesday. The business has a 50 day moving average of $25.93 and a 200-day moving average of $26.87. Kraft Heinz Company has a 1 year low of $23.90 and a 1 year high of $34.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The company has a market capitalization of $28.61 billion, a P/E ratio of -6.48, a P/E/G ratio of 2.88 and a beta of 0.16.

Kraft Heinz (NASDAQ:KHC – Get Free Report) last released its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The company had revenue of $6.39 billion during the quarter. On average, equities research analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.60 annualized dividend and a yield of 6.6%. Kraft Heinz’s dividend payout ratio is presently -42.90%.

Kraft Heinz Company Profile

(Free Report)

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.

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