Kraft Heinz Company $KHC Holdings Raised by Global Wealth Management Investment Advisory Inc.

Key Points

• Global Wealth Management Investment Advisory increased its Kraft Heinz stake by 27.1% in the third quarter, adding 43,335 shares to bring its holdings to 203,491 shares, valued at about $4.6 million.
• Analyst sentiment is cautious: MarketBeat reports an average “Reduce” rating and a consensus price target of $23.80, with ten Hold and five Sell ratings and one Buy.
• Kraft Heinz beat quarterly earnings and revenue estimates, reporting $0.53 EPS and $6.12 billion in revenue, though revenue declined 2% year over year. The company declared a $0.40 quarterly dividend, equivalent to a 6.6% annualized yield.

Global Wealth Management Investment Advisory Inc. increased its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 27.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,491 shares of the company's stock after buying an additional 43,335 shares during the quarter. Global Wealth Management Investment Advisory Inc.'s holdings in Kraft Heinz were worth $4,623,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Kraft Heinz in the 2nd quarter valued at $1,803,911,000. Pacer Advisors Inc. lifted its position in shares of Kraft Heinz by 7.3% during the 1st quarter. Pacer Advisors Inc. now owns 9,270,503 shares of the company's stock valued at $208,494,000 after acquiring an additional 633,645 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Kraft Heinz by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,944,618 shares of the company's stock worth $178,663,000 after purchasing an additional 149,034 shares in the last quarter. Nykredit A S acquired a new stake in shares of Kraft Heinz during the 2nd quarter worth $181,408,000. Finally, Deutsche Bank AG acquired a new stake in shares of Kraft Heinz during the 2nd quarter worth $179,876,000. Institutional investors own 78.17% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on KHC. Jefferies Financial Group reaffirmed a "hold" rating and issued a $24.00 price target on shares of Kraft Heinz in a research note on Wednesday, November 4th. Wells Fargo & Company upped their price objective on shares of Kraft Heinz from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 5th. TD Cowen reiterated a "hold" rating and set a $22.00 price objective on shares of Kraft Heinz in a research note on Tuesday, September 22nd. Piper Sandler raised their target price on shares of Kraft Heinz from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Finally, Weiss Ratings lowered shares of Kraft Heinz from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $23.80.

Kraft Heinz Stock Down 0.8%

Shares of KHC opened at $24.41 on Tuesday. The firm has a 50 day simple moving average of $23.98 and a two-hundred day simple moving average of $23.93. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.06 and a quick ratio of 0.68. Kraft Heinz Company has a one year low of $21.03 and a one year high of $28.09. The company has a market cap of $28.90 billion, a P/E ratio of -8.54, a P/E/G ratio of 2.99 and a beta of 0.12.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.11. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.09 billion. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%. The company's revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. Research analysts forecast that Kraft Heinz Company will post 2.06 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Friday, December 4th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.6%. Kraft Heinz's payout ratio is -54.79%.

About Kraft Heinz

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Heinz Company (NASDAQ:KHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.