Raymond James Financial Inc. Has $39.42 Million Stock Holdings in Kraft Heinz Company $KHC

Key Points

• Raymond James Financial Inc. increased its stake in Kraft Heinz Company (NASDAQ:KHC) by 1.1% during the first quarter, owning approximately 1,295,558 shares valued at $39.4 million.
• Analysts have mixed views on Kraft Heinz, with the consensus rating currently at "Reduce" and an average price target of $30.12, following several downgrades from various brokerages.
• Kraft Heinz recently announced a quarterly dividend of $0.40 per share, representing a 5.7% yield, with the ex-dividend date set for August 29th.

Raymond James Financial Inc. increased its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,295,558 shares of the company's stock after purchasing an additional 14,576 shares during the period. Raymond James Financial Inc. owned approximately 0.11% of Kraft Heinz worth $39,424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Kraft Heinz by 12.7% during the 1st quarter. Vanguard Group Inc. now owns 101,980,834 shares of the company's stock worth $3,103,277,000 after purchasing an additional 11,472,071 shares during the last quarter. Northern Trust Corp increased its stake in Kraft Heinz by 12.6% during the 4th quarter. Northern Trust Corp now owns 9,289,691 shares of the company's stock worth $285,286,000 after acquiring an additional 1,039,885 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Kraft Heinz by 23.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,585,167 shares of the company's stock worth $263,650,000 after acquiring an additional 1,628,516 shares during the period. Bank of New York Mellon Corp increased its stake in Kraft Heinz by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 8,171,720 shares of the company's stock worth $248,665,000 after acquiring an additional 103,548 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Kraft Heinz by 4,390.7% during the 1st quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company's stock worth $226,523,000 after acquiring an additional 7,278,295 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on KHC shares. Stifel Nicolaus lowered their price objective on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company lifted their price target on Kraft Heinz from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. The Goldman Sachs Group upgraded Kraft Heinz from a "sell" rating to a "neutral" rating and lifted their price target for the company from $25.00 to $27.00 in a research note on Wednesday, June 25th. DZ Bank lowered Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a research note on Friday, May 9th. Finally, Mizuho set a $29.00 price target on Kraft Heinz and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Sixteen investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $30.12.

Kraft Heinz Trading Up 0.2%

KHC traded up $0.06 during midday trading on Wednesday, hitting $27.76. 3,715,316 shares of the company were exchanged, compared to its average volume of 12,308,043. The firm has a market capitalization of $32.85 billion, a P/E ratio of -6.18, a P/E/G ratio of 3.23 and a beta of 0.23. Kraft Heinz Company has a 1-year low of $25.44 and a 1-year high of $36.53. The firm's 50 day moving average price is $27.22 and its 200-day moving average price is $28.31. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.26 billion. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The business's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 EPS. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. As a group, equities analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.60 annualized dividend and a yield of 5.8%. Kraft Heinz's payout ratio is presently -35.63%.

Insider Buying and Selling

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of Kraft Heinz stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $27.91, for a total transaction of $697,750.00. Following the transaction, the director directly owned 40,000 shares of the company's stock, valued at approximately $1,116,400. The trade was a 38.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.35% of the company's stock.

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.