Carlton Hofferkamp & Jenks Wealth Management LLC Sells 1,034 Shares of Kraft Heinz Company $KHC

Carlton Hofferkamp & Jenks Wealth Management LLC trimmed its holdings in shares of Kraft Heinz Company (NASDAQ:KHC) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,541 shares of the company’s stock after selling 1,034 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Kraft Heinz were worth $671,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Rossby Financial LCC bought a new stake in shares of Kraft Heinz during the first quarter worth approximately $29,000. Wayfinding Financial LLC bought a new stake in Kraft Heinz in the first quarter valued at approximately $33,000. Investment Management Corp VA ADV increased its stake in Kraft Heinz by 141.7% in the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock valued at $35,000 after purchasing an additional 669 shares in the last quarter. Banque Transatlantique SA bought a new stake in Kraft Heinz in the first quarter valued at approximately $40,000. Finally, Mid American Wealth Advisory Group Inc. bought a new stake in Kraft Heinz in the second quarter valued at approximately $39,000. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $25.25 on Friday. The firm has a 50-day moving average of $26.33 and a 200-day moving average of $27.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07. The stock has a market cap of $29.89 billion, a PE ratio of -5.62, a P/E/G ratio of 2.98 and a beta of 0.16. Kraft Heinz Company has a 52-week low of $24.80 and a 52-week high of $35.17.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The company had revenue of $6.39 billion during the quarter. On average, sell-side analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 29th were paid a $0.40 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.60 annualized dividend and a yield of 6.3%. Kraft Heinz’s payout ratio is -35.63%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on KHC shares. Wells Fargo & Company reduced their price target on shares of Kraft Heinz from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, September 3rd. UBS Group reduced their target price on shares of Kraft Heinz from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Hsbc Global Res upgraded shares of Kraft Heinz to a “hold” rating in a report on Friday, August 1st. DZ Bank upgraded shares of Kraft Heinz from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Kraft Heinz from $28.00 to $27.00 and set a “hold” rating on the stock in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $28.65.

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.