Kraft Heinz Company $KHC Shares Acquired by Empower Advisory Group LLC

Empower Advisory Group LLC boosted its stake in Kraft Heinz Company (NASDAQ:KHC) by 8.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,429,436 shares of the company’s stock after buying an additional 180,578 shares during the period. Empower Advisory Group LLC owned 0.21% of Kraft Heinz worth $62,728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Investment Management Corp VA ADV lifted its position in Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock valued at $35,000 after purchasing an additional 669 shares during the last quarter. Banque Transatlantique SA acquired a new stake in shares of Kraft Heinz in the first quarter valued at approximately $40,000. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Kraft Heinz during the second quarter valued at approximately $39,000. Larson Financial Group LLC raised its holdings in shares of Kraft Heinz by 52.6% during the first quarter. Larson Financial Group LLC now owns 1,558 shares of the company’s stock valued at $47,000 after buying an additional 537 shares during the last quarter. Finally, Hilltop National Bank bought a new position in Kraft Heinz in the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Trading Down 0.4%

Shares of NASDAQ KHC opened at $24.85 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Kraft Heinz Company has a 12 month low of $23.70 and a 12 month high of $33.35. The company has a market cap of $29.41 billion, a price-to-earnings ratio of -6.66, a P/E/G ratio of 2.88 and a beta of 0.16. The business has a fifty day simple moving average of $25.47 and a 200-day simple moving average of $26.62.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Friday, July 8th. The company reported $0.72 EPS for the quarter. The firm had revenue of $6.39 billion during the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. Sell-side analysts predict that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.4%. Kraft Heinz’s dividend payout ratio (DPR) is -42.90%.

Analysts Set New Price Targets

KHC has been the subject of several recent analyst reports. Sanford C. Bernstein decreased their price target on Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating for the company in a research note on Tuesday, October 28th. The Goldman Sachs Group decreased their target price on shares of Kraft Heinz from $30.00 to $27.00 in a research report on Thursday, October 30th. Morgan Stanley dropped their price target on shares of Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Barclays reduced their price target on shares of Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. Finally, Stifel Nicolaus lowered their price objective on shares of Kraft Heinz from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $26.58.

About Kraft Heinz

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.