175,988 Shares in The Kraft Heinz Company (NASDAQ:KHC) Purchased by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC purchased a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 175,988 shares of the company’s stock, valued at approximately $6,179,000. Kraft Heinz makes up about 0.8% of Philip James Wealth Mangement LLC’s portfolio, making the stock its 29th largest position.

A number of other hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC boosted its position in shares of Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in Kraft Heinz during the first quarter worth about $27,000. DiNuzzo Private Wealth Inc. boosted its holdings in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares in the last quarter. Asset Dedication LLC grew its stake in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares during the period. Finally, Bangor Savings Bank acquired a new position in shares of Kraft Heinz in the 3rd quarter worth approximately $32,000. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Down 0.1 %

Shares of KHC traded down $0.04 during mid-day trading on Friday, hitting $32.78. 487,104 shares of the company’s stock were exchanged, compared to its average volume of 7,761,625. The company has a 50-day simple moving average of $35.01 and a 200 day simple moving average of $34.74. 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 company has a market cap of $39.64 billion, a PE ratio of 29.57, a P/E/G ratio of 3.81 and a beta of 0.49. The Kraft Heinz Company has a 52 week low of $31.58 and a 52 week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. On average, research analysts forecast that The Kraft Heinz Company will post 3.01 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, December 27th. Investors of record on Friday, November 29th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 4.88%. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on 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 sale, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KHC. Piper Sandler dropped their target price on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Citigroup dropped their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company boosted their target price on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Finally, Mizuho cut their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $37.25.

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.