Benchmark Financial Wealth Advisors LLC Makes New $268,000 Investment in The Kraft Heinz Company (NASDAQ:KHC)

Benchmark Financial Wealth Advisors LLC purchased a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 7,632 shares of the company’s stock, valued at approximately $268,000.

Other large investors have also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz in the first quarter worth about $27,000. Fortitude Family Office LLC increased its holdings in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 529 shares during the period. DiNuzzo Private Wealth Inc. increased its holdings in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares during the period. Bangor Savings Bank purchased a new position in Kraft Heinz during the 3rd quarter valued at about $32,000. Finally, Asset Dedication LLC increased its holdings in Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KHC. Mizuho reduced their price target on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Evercore ISI reduced their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Barclays reduced their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Bank of America reduced their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. reduced their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $37.25.

Kraft Heinz Stock Performance

KHC stock opened at $33.51 on Wednesday. The stock has a market capitalization of $40.52 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 3.82 and a beta of 0.49. The Kraft Heinz Company has a 12-month low of $31.58 and a 12-month high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $35.05 and its 200 day simple moving average is $34.75.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS. As a group, research analysts forecast that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 4.77%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Kraft Heinz 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.