Wealthsource Partners LLC Raises Holdings in Kraft Heinz Co (KHC)

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Wealthsource Partners LLC grew its holdings in shares of Kraft Heinz Co (NASDAQ:KHC) by 40.6% during the third quarter, HoldingsChannel.com reports. The firm owned 4,493 shares of the company’s stock after acquiring an additional 1,298 shares during the quarter. Wealthsource Partners LLC’s holdings in Kraft Heinz were worth $248,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Integrated Investment Consultants LLC increased its position in Kraft Heinz by 133.5% during the 2nd quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock valued at $106,000 after buying an additional 965 shares in the last quarter. Sigma Planning Corp increased its position in Kraft Heinz by 16.4% during the 2nd quarter. Sigma Planning Corp now owns 8,750 shares of the company’s stock valued at $550,000 after buying an additional 1,230 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Kraft Heinz during the 2nd quarter valued at approximately $3,929,000. Sei Investments Co. increased its position in Kraft Heinz by 29.3% during the 2nd quarter. Sei Investments Co. now owns 66,919 shares of the company’s stock valued at $4,204,000 after buying an additional 15,184 shares in the last quarter. Finally, Wedbush Securities Inc. increased its position in Kraft Heinz by 8.9% during the 2nd quarter. Wedbush Securities Inc. now owns 14,276 shares of the company’s stock valued at $897,000 after buying an additional 1,161 shares in the last quarter. 62.63% of the stock is currently owned by institutional investors.

A number of research analysts recently weighed in on the company. Berenberg Bank set a $64.00 price objective on Kraft Heinz and gave the company a “buy” rating in a research report on Tuesday, November 20th. BidaskClub downgraded Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Tuesday, November 20th. Morgan Stanley set a $49.00 target price on Kraft Heinz and gave the company a “sell” rating in a research note on Wednesday, November 7th. BMO Capital Markets cut their target price on Kraft Heinz from $67.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, November 5th. Finally, Credit Suisse Group set a $52.00 target price on Kraft Heinz and gave the company a “hold” rating in a research note on Friday, November 2nd. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $66.89.

Shares of KHC opened at $48.71 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.57 and a debt-to-equity ratio of 0.47. Kraft Heinz Co has a 12 month low of $48.51 and a 12 month high of $80.67. The firm has a market cap of $60.39 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 2.21 and a beta of 0.45.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Thursday, November 1st. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.03). The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.31 billion. Kraft Heinz had a net margin of 39.56% and a return on equity of 6.62%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.83 earnings per share. On average, equities research analysts expect that Kraft Heinz Co will post 3.64 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 16th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.13%. Kraft Heinz’s dividend payout ratio (DPR) is currently 70.42%.

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Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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