Confluence Wealth Services Inc. Acquires Shares of 7,046 The Kraft Heinz Company (NASDAQ:KHC)

Confluence Wealth Services Inc. bought a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,046 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors also recently modified their holdings of the business. Steward Partners Investment Solutions LLC acquired a new stake in Kraft Heinz in the 4th quarter worth about $25,000. New Covenant Trust Company N.A. bought a new position in shares of Kraft Heinz during the first quarter worth approximately $27,000. Hantz Financial Services Inc. bought a new position in shares of Kraft Heinz during the second quarter worth approximately $34,000. Transcendent Capital Group LLC acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at approximately $38,000. Finally, Centerpoint Advisors LLC grew its position in Kraft Heinz by 550.0% during the second quarter. Centerpoint Advisors LLC now owns 1,300 shares of the company’s stock worth $42,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling

In other news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were 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 of the company’s stock, valued at approximately $5,182,920. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.32% of the stock is owned by insiders.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $35.43 on Monday. The business’s 50-day moving average price is $33.82 and its 200-day moving average price is $35.04. The firm has a market capitalization of $42.84 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 3.32 and a beta of 0.53. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results 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. The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 EPS. Equities research analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KHC. Barclays lifted their price objective on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. The Goldman Sachs Group began coverage on shares of 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 $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Wells Fargo & Company upped their price target 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz presently has an average rating of “Hold” and an average target price of $37.31.

Kraft Heinz Company 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.