Raymond James Financial Inc. Acquires New Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Raymond James Financial Inc. purchased a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,280,982 shares of the company’s stock, valued at approximately $39,339,000.

A number of other large investors have also bought and sold shares of the business. Brookstone Capital Management boosted its holdings in shares of Kraft Heinz by 229.8% in the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company’s stock valued at $10,530,000 after buying an additional 238,913 shares during the period. Headlands Technologies LLC acquired a new position in shares of Kraft Heinz during the fourth quarter worth about $2,048,000. Nordea Investment Management AB grew its holdings in shares of Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after buying an additional 1,238,200 shares in the last quarter. FLC Capital Advisors lifted its stake in Kraft Heinz by 121.0% in the 4th quarter. FLC Capital Advisors now owns 18,653 shares of the company’s stock valued at $573,000 after acquiring an additional 10,214 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Kraft Heinz by 511.7% during the 4th quarter. SG Americas Securities LLC now owns 42,706 shares of the company’s stock worth $1,312,000 after acquiring an additional 35,725 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Stock Down 1.3 %

KHC stock opened at $29.42 on Wednesday. The company has a market cap of $35.11 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week high of $38.96. The business has a 50-day simple moving average of $29.98 and a 200 day simple moving average of $31.18.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Sell-side analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.44%. Kraft Heinz’s dividend payout ratio is currently 70.80%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Stifel Nicolaus reduced their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, February 13th. StockNews.com upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Piper Sandler dropped their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company decreased their price target on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Finally, Jefferies Financial Group dropped their price objective on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.67.

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.