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AlphaCore Capital LLC Purchases New Stake in Kraft Heinz Company (NASDAQ:KHC)

Kraft Heinz logo with Consumer Staples background

Key Points

  • AlphaCore Capital LLC has acquired a new stake in Kraft Heinz Company, purchasing 12,050 shares valued at approximately $367,000 in the first quarter.
  • Several analysts have recently issued target price changes for Kraft Heinz, with a consensus price target of $30.35 and an average rating of "Hold."
  • Kraft Heinz announced a quarterly dividend of $0.40 per share, to be paid on September 26th, representing an annualized dividend yield of 5.8%.
  • Need Better Tools to Track Kraft Heinz? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

AlphaCore Capital LLC acquired a new position in Kraft Heinz Company (NASDAQ:KHC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,050 shares of the company's stock, valued at approximately $367,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hara Capital LLC boosted its stake in shares of Kraft Heinz by 61.9% during the 4th quarter. Hara Capital LLC now owns 1,700 shares of the company's stock worth $52,000 after acquiring an additional 650 shares in the last quarter. Bank of Nova Scotia boosted its position in Kraft Heinz by 2.3% during the fourth quarter. Bank of Nova Scotia now owns 227,130 shares of the company's stock worth $6,975,000 after purchasing an additional 5,125 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Kraft Heinz in the fourth quarter valued at $39,339,000. Heritage Trust Co purchased a new position in shares of Kraft Heinz in the fourth quarter valued at $413,000. Finally, Townsquare Capital LLC raised its stake in shares of Kraft Heinz by 28.2% during the 4th quarter. Townsquare Capital LLC now owns 34,728 shares of the company's stock worth $1,067,000 after buying an additional 7,644 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Mizuho set a $29.00 target price on shares of Kraft Heinz and gave the company a "neutral" rating in a report on Wednesday, May 28th. Sanford C. Bernstein cut shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $34.00 to $31.00 in a research note on Tuesday, April 22nd. DZ Bank downgraded Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research report on Friday, May 9th. Stifel Nicolaus lowered their target price on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Finally, Hsbc Global Res raised Kraft Heinz to a "hold" rating in a report on Friday, August 1st. Three research analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $30.35.

Read Our Latest Stock Analysis on Kraft Heinz

Kraft Heinz Stock Up 0.4%

Shares of NASDAQ:KHC opened at $27.76 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. The firm has a market cap of $32.86 billion, a price-to-earnings ratio of -6.18, a PEG ratio of 3.23 and a beta of 0.23. The stock's 50-day moving average price is $26.93 and its two-hundred day moving average price is $28.46. Kraft Heinz Company has a 12-month low of $25.44 and a 12-month high of $36.53.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The business had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period last year, the company earned $0.78 earnings per share. The company's quarterly revenue was down 1.9% on a year-over-year basis. On average, research analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Friday, August 29th. Kraft Heinz's dividend payout ratio is presently -35.63%.

Insider Activity at Kraft Heinz

In related news, Director Elio Leoni Sceti sold 25,000 shares of Kraft Heinz stock in a transaction on Friday, July 18th. The stock was sold at an average price of $27.91, for a total value of $697,750.00. Following the transaction, the director owned 40,000 shares in the company, valued at approximately $1,116,400. This trade represents a 38.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by insiders.

Kraft Heinz Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Heinz Company (NASDAQ:KHC - Free Report).

Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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