D.A. Davidson & CO. Has $3.46 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

D.A. Davidson & CO. increased its stake in The Kraft Heinz Company (NASDAQ:KHC) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 98,510 shares of the company’s stock after purchasing an additional 3,054 shares during the quarter. D.A. Davidson & CO.’s holdings in Kraft Heinz were worth $3,459,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MADDEN SECURITIES Corp lifted its holdings in shares of Kraft Heinz by 2.4% during the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock worth $448,000 after buying an additional 303 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of Kraft Heinz by 2.5% during the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after buying an additional 314 shares during the last quarter. Axiom Advisory LLC lifted its holdings in shares of Kraft Heinz by 5.2% during the third quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after buying an additional 327 shares during the last quarter. Norden Group LLC lifted its holdings in shares of Kraft Heinz by 3.8% during the second quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after buying an additional 339 shares during the last quarter. Finally, Valley Wealth Managers Inc. lifted its holdings in shares of Kraft Heinz by 46.4% during the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after buying an additional 340 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC opened at $31.93 on Friday. The business’s fifty day moving average price is $33.83 and its two-hundred day moving average price is $34.16. The Kraft Heinz Company has a fifty-two week low of $30.40 and a fifty-two week high of $38.96. The stock has a market capitalization of $38.61 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 3.66 and a beta of 0.49. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56.

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 analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s payout ratio is presently 144.14%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KHC. Barclays cut their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Wells Fargo & Company boosted their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Finally, The Goldman Sachs Group lowered their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.55.

Insider Transactions at Kraft Heinz

In other 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 transaction 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 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

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.