Secure Asset Management LLC Grows Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Secure Asset Management LLC boosted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 12.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 46,824 shares of the company’s stock after buying an additional 5,233 shares during the quarter. Secure Asset Management LLC’s holdings in Kraft Heinz were worth $1,644,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Marshall Financial Group LLC bought a new position in shares of Kraft Heinz during the third quarter valued at approximately $449,000. Bleakley Financial Group LLC boosted its holdings in Kraft Heinz by 4.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 18,870 shares of the company’s stock valued at $663,000 after acquiring an additional 758 shares during the period. FLC Capital Advisors purchased a new position in Kraft Heinz during the 3rd quarter valued at $296,000. Bfsg LLC bought a new position in Kraft Heinz in the 3rd quarter valued at $1,476,000. Finally, SPC Financial Inc. increased its stake in Kraft Heinz by 6.3% in the third quarter. SPC Financial Inc. now owns 13,835 shares of the company’s stock worth $486,000 after purchasing an additional 825 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Trading Up 0.4 %

KHC opened at $35.95 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The firm has a market cap of $43.65 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a 12 month low of $31.08 and a 12 month high of $38.96. The stock has a fifty day moving average price of $35.18 and a 200-day moving average price of $34.99.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating 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 analyst estimates of $6.55 billion. During the same period in the prior year, the firm posted $0.79 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a $0.40 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 4.45%. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Insiders Place Their Bets

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

KHC has been the topic of a number of research analyst reports. Citigroup cut their price target on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI decreased their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Bank of America decreased their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.55.

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.