CCM Investment Group LLC Acquires Shares of 74,582 Kraft Heinz Company (NASDAQ:KHC)

Key Points

• CCM Investment Group LLC acquired 74,582 shares of Kraft Heinz Company (NASDAQ:KHC) during Q1, valued at approximately $2.25 million.
• Kraft Heinz recently announced a quarterly dividend of $0.40 per share, set to be paid on September 26, representing an annualized yield of 5.8%.
• The company's stock price rose 0.4%, with a market cap of $32.86 billion and a PE ratio of -6.18.

CCM Investment Group LLC acquired a new position in Kraft Heinz Company (NASDAQ:KHC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 74,582 shares of the company's stock, valued at approximately $2,255,000.

Several other hedge funds and other institutional investors have also bought and sold shares of KHC. Hara Capital LLC boosted its position in shares of Kraft Heinz by 61.9% in the 4th quarter. Hara Capital LLC now owns 1,700 shares of the company's stock worth $52,000 after purchasing an additional 650 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of 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 during the period. Raymond James Financial Inc. acquired a new stake in shares of Kraft Heinz during the fourth quarter worth about $39,339,000. Heritage Trust Co acquired a new stake in shares of Kraft Heinz during the fourth quarter worth about $413,000. Finally, Townsquare Capital LLC lifted its holdings in shares of Kraft Heinz by 28.2% during the fourth quarter. Townsquare Capital LLC now owns 34,728 shares of the company's stock worth $1,067,000 after purchasing an additional 7,644 shares during the period. Institutional investors own 78.17% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KHC. UBS Group increased their target price on Kraft Heinz from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. DZ Bank downgraded shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research note on Friday, May 9th. Wells Fargo & Company lifted their target price on shares of Kraft Heinz from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. The Goldman Sachs Group upgraded Kraft Heinz from a "sell" rating to a "neutral" rating and upped their price objective for the company from $25.00 to $27.00 in a report on Wednesday, June 25th. Finally, Mizuho set a $29.00 price objective on Kraft Heinz and gave the company a "neutral" rating in a report on Wednesday, May 28th. Three equities research analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the stock. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of "Hold" and a consensus target price of $30.35.

Kraft Heinz Stock Down 0.3%

KHC traded down $0.08 during trading hours on Tuesday, hitting $27.35. 13,477,475 shares of the company's stock were exchanged, compared to its average volume of 14,234,698. The firm has a market cap of $32.37 billion, a P/E ratio of -6.09, a price-to-earnings-growth ratio of 3.20 and a beta of 0.23. Kraft Heinz Company has a 12-month low of $25.44 and a 12-month high of $36.53. 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 50 day moving average of $26.94 and a 200 day moving average of $28.45.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.26 billion. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The company's quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Analysts predict that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.9%. The ex-dividend date is Friday, August 29th. Kraft Heinz's dividend payout ratio is currently -35.63%.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $27.91, for a total value of $697,750.00. Following the completion of the transaction, the director owned 40,000 shares in the company, valued at $1,116,400. This represents a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by corporate insiders.

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.