The Kraft Heinz Company (NASDAQ:KHC) Shares Purchased by Avestar Capital LLC

Avestar Capital LLC increased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 12.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,485 shares of the company’s stock after buying an additional 1,700 shares during the quarter. Avestar Capital LLC’s holdings in Kraft Heinz were worth $544,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Brooklyn Investment Group purchased a new stake in Kraft Heinz in the third quarter valued at $81,000. D.A. Davidson & CO. boosted its position in Kraft Heinz by 3.2% in the 3rd quarter. D.A. Davidson & CO. now owns 98,510 shares of the company’s stock worth $3,459,000 after purchasing an additional 3,054 shares in the last quarter. West Tower Group LLC acquired a new stake in shares of Kraft Heinz during the 3rd quarter worth approximately $263,000. The Manufacturers Life Insurance Company lifted its stake in shares of Kraft Heinz by 9.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 544,638 shares of the company’s stock valued at $19,122,000 after purchasing an additional 46,740 shares during the period. Finally, Qsemble Capital Management LP grew its position in Kraft Heinz by 1,460.8% during the third quarter. Qsemble Capital Management LP now owns 98,394 shares of the company’s stock valued at $3,455,000 after buying an additional 92,090 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KHC. Mizuho dropped their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Citigroup cut their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company boosted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.55.

Kraft Heinz Stock Down 0.2 %

KHC stock opened at $31.97 on Wednesday. The company has a market cap of $38.66 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 3.66 and a beta of 0.49. The firm has a 50-day moving average of $33.95 and a two-hundred day moving average of $34.19. The Kraft Heinz Company has a 12 month low of $30.40 and a 12 month high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. As a group, analysts forecast that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Insider Buying and Selling

In other news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz 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 completion of the sale, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. The trade was 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 hyperlink. Corporate insiders own 0.37% 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.