Wealthfront Advisers LLC Buys 258,753 Shares of Kraft Heinz Company $KHC

Wealthfront Advisers LLC increased its stake in Kraft Heinz Company (NASDAQ:KHC) by 150.8% during the 2nd quarter, Holdings Channel reports. The firm owned 430,288 shares of the company’s stock after purchasing an additional 258,753 shares during the quarter. Wealthfront Advisers LLC’s holdings in Kraft Heinz were worth $11,110,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rossby Financial LCC purchased a new stake in Kraft Heinz in the first quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in Kraft Heinz in the first quarter worth approximately $33,000. Investment Management Corp VA ADV boosted its stake in Kraft Heinz by 141.7% in the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock worth $35,000 after buying an additional 669 shares in the last quarter. Banque Transatlantique SA purchased a new stake in Kraft Heinz in the first quarter worth approximately $40,000. Finally, Mid American Wealth Advisory Group Inc. purchased a new stake in Kraft Heinz in the second quarter worth approximately $39,000. 78.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KHC has been the subject of several research reports. Morgan Stanley cut their target price on Kraft Heinz from $29.00 to $28.00 in a research note on Thursday, October 16th. JPMorgan Chase & Co. initiated coverage on Kraft Heinz in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $27.00 target price for the company. Stifel Nicolaus cut their target price on Kraft Heinz from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft cut their target price on Kraft Heinz from $28.00 to $27.00 and set a “hold” rating for the company in a research note on Monday, October 13th. Finally, Wells Fargo & Company dropped their price objective on Kraft Heinz from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $28.65.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $25.25 on Monday. The firm has a market cap of $29.89 billion, a PE ratio of -5.62, a price-to-earnings-growth ratio of 2.96 and a beta of 0.16. Kraft Heinz Company has a fifty-two week low of $24.80 and a fifty-two week high of $35.17. 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 business has a 50 day moving average price of $26.33 and a 200-day moving average price of $27.11.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share 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 during the quarter. Equities research analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

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

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.