Dupree Financial Group LLC Invests $8.14 Million in The Kraft Heinz Company (NASDAQ:KHC)

Dupree Financial Group LLC acquired a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 231,966 shares of the company’s stock, valued at approximately $8,144,000. Kraft Heinz makes up approximately 3.3% of Dupree Financial Group LLC’s holdings, making the stock its 8th biggest position.

A number of other hedge funds also recently made changes to their positions in KHC. New Covenant Trust Company N.A. purchased a new stake in Kraft Heinz in the first quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares in the last quarter. Asset Dedication LLC grew its holdings in shares of 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 last quarter. Bangor Savings Bank purchased a new position in Kraft Heinz in the 3rd quarter worth $32,000. Finally, Hantz Financial Services Inc. bought a new stake in Kraft Heinz in the second quarter worth $34,000. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Trading Up 0.4 %

NASDAQ:KHC opened at $35.64 on Wednesday. The company has a 50-day moving average price of $35.25 and a 200-day moving average price of $34.92. The stock has a market cap of $43.28 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 3.39 and a beta of 0.49. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 12 month low of $31.08 and a 12 month high of $38.96.

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

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.40 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 4.49%. Kraft Heinz’s payout ratio is 69.87%.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now owns 143,970 shares in the company, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KHC. Evercore ISI reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Barclays boosted their price objective on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. 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 note on Wednesday, October 9th. Finally, Bank of America cut their price target 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 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $37.55.

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.