Brookstone Capital Management Raises Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Brookstone Capital Management increased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 16.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 83,712 shares of the company’s stock after purchasing an additional 11,629 shares during the period. Brookstone Capital Management’s holdings in Kraft Heinz were worth $2,838,000 at the end of the most recent reporting period.

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

Kraft Heinz Stock Performance

NASDAQ:KHC traded up $0.43 during mid-day trading on Friday, reaching $34.62. 11,470,384 shares of the stock were exchanged, compared to its average volume of 8,053,112. The stock has a market capitalization of $42.04 billion, a P/E ratio of 15.12, a P/E/G ratio of 3.52 and a beta of 0.53. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $38.96. The company has a 50 day simple moving average of $33.29 and a 200-day simple moving average of $35.14. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 0.39.

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

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

Wall Street Analysts Forecast Growth

KHC has been the topic of a number of recent research reports. Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Barclays increased their price target on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Evercore ISI reduced 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. Finally, Citigroup dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $37.31.

Insider Activity

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz 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.