Verdence Capital Advisors LLC Buys 22,539 Shares of Kraft Heinz Company $KHC

Verdence Capital Advisors LLC lifted its stake in Kraft Heinz Company (NASDAQ:KHCFree Report) by 171.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,676 shares of the company’s stock after acquiring an additional 22,539 shares during the period. Verdence Capital Advisors LLC’s holdings in Kraft Heinz were worth $921,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in KHC. GAMMA Investing LLC raised its position in shares of Kraft Heinz by 28.1% in the 1st quarter. GAMMA Investing LLC now owns 15,794 shares of the company’s stock worth $481,000 after acquiring an additional 3,468 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Kraft Heinz by 10.8% in the 1st quarter. Fifth Third Bancorp now owns 29,567 shares of the company’s stock worth $900,000 after acquiring an additional 2,879 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of Kraft Heinz by 16.2% in the 1st quarter. Ritholtz Wealth Management now owns 31,792 shares of the company’s stock worth $967,000 after acquiring an additional 4,428 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Kraft Heinz by 9.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 332,414 shares of the company’s stock worth $10,115,000 after acquiring an additional 27,740 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in Kraft Heinz by 84.5% during the 1st quarter. QRG Capital Management Inc. now owns 38,531 shares of the company’s stock worth $1,173,000 after buying an additional 17,643 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KHC. The Goldman Sachs Group raised Kraft Heinz from a “sell” rating to a “neutral” rating and raised their price target for the stock from $25.00 to $27.00 in a report on Wednesday, June 25th. Hsbc Global Res upgraded Kraft Heinz to a “hold” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. started coverage on Kraft Heinz in a research note on Wednesday, August 20th. They set a “neutral” rating and a $27.00 price target on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Kraft Heinz in a research note on Wednesday, October 8th. Finally, Barclays dropped their price target on Kraft Heinz from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $29.06.

Get Our Latest Stock Analysis on KHC

Kraft Heinz Stock Up 1.3%

Shares of KHC stock opened at $25.44 on Wednesday. Kraft Heinz Company has a fifty-two week low of $24.80 and a fifty-two week high of $36.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07. The firm has a market capitalization of $30.11 billion, a PE ratio of -5.67, a P/E/G ratio of 2.94 and a beta of 0.16. The stock’s 50-day simple moving average is $26.67 and its 200-day simple moving average is $27.35.

Kraft Heinz (NASDAQ:KHCGet Free Report) last issued its earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The firm had revenue of $6.39 billion for the quarter. Equities analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were paid a $0.40 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.3%. Kraft Heinz’s dividend payout ratio is presently -35.63%.

Insider Activity at Kraft Heinz

In other news, Director Elio Leoni Sceti sold 25,000 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $27.91, for a total value of $697,750.00. Following the sale, the director owned 40,000 shares in the company, valued at $1,116,400. This represents a 38.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by insiders.

About Kraft Heinz

(Free Report)

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.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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