CreativeOne Wealth LLC Takes $231,000 Position in The Kraft Heinz Company (NASDAQ:KHC)

CreativeOne Wealth LLC bought a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,576 shares of the company’s stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of KHC. Fortitude Family Office LLC grew 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 during the period. Ashton Thomas Securities LLC bought a new position in Kraft Heinz in the 3rd quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. boosted its holdings in Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares during the period. Asset Dedication LLC boosted its holdings in Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after buying an additional 476 shares during the period. Finally, Bangor Savings Bank bought a new position in Kraft Heinz in the 3rd quarter worth approximately $32,000. 78.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on KHC. Barclays cut their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Citigroup cut 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. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $35.00 in a report on Thursday, October 31st. The Goldman Sachs Group cut their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. Finally, Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $38.00 in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.55.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the transaction, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is owned by corporate insiders.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $31.45 on Wednesday. The firm’s fifty day moving average price is $33.64 and its 200-day moving average price is $34.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The stock has a market cap of $38.03 billion, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 3.61 and a beta of 0.48. The Kraft Heinz Company has a fifty-two week low of $30.40 and a fifty-two week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data 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. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. On average, equities research analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s payout ratio is presently 144.14%.

Kraft Heinz Company 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.