DORCHESTER WEALTH MANAGEMENT Co Takes $209,000 Position in The Kraft Heinz Company (NASDAQ:KHC)

DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) during the third quarter, HoldingsChannel.com reports. The firm acquired 5,959 shares of the company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz during the 1st quarter worth $27,000. DiNuzzo Private Wealth Inc. raised its stake in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares during the period. Asset Dedication LLC boosted its holdings in Kraft Heinz by 94.8% in 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 last quarter. Bangor Savings Bank purchased a new stake in shares of Kraft Heinz in the 3rd quarter valued at approximately $32,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Kraft Heinz during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Down 0.3 %

Shares of Kraft Heinz stock traded down $0.09 during trading hours on Thursday, reaching $35.41. 602,224 shares of the company were exchanged, compared to its average volume of 7,712,251. The firm has a market cap of $43.00 billion, a PE ratio of 15.50, a PEG ratio of 3.39 and a beta of 0.49. The stock’s fifty day moving average is $35.27 and its 200 day moving average is $34.93. The Kraft Heinz Company has a 1 year low of $31.08 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter last year, the business posted $0.79 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.52%. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. The Goldman Sachs Group initiated coverage on Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 price objective for the company. Citigroup decreased their target price on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Evercore ISI dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $37.55.

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.