CORDA Investment Management LLC. Purchases 34,661 Shares of Kraft Heinz Company $KHC

Key Points

• CORDA Investment Management LLC increased its stake in Kraft Heinz by 4.7%, acquiring an additional 34,661 shares during the second quarter, bringing its total holdings to 775,772 shares valued at approximately $20 million.
• Kraft Heinz recently declared a quarterly dividend of $0.40, resulting in an annualized dividend of $1.60 and a dividend yield of 6.3%.
• Analysts have updated price targets for Kraft Heinz, with an average consensus target of $28.65 and various ratings from "Hold" to "Strong Buy" issued by brokerages.

CORDA Investment Management LLC. grew its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 775,772 shares of the company's stock after acquiring an additional 34,661 shares during the quarter. CORDA Investment Management LLC. owned 0.07% of Kraft Heinz worth $20,030,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. FLC Capital Advisors raised its holdings in shares of Kraft Heinz by 5.5% in the 2nd quarter. FLC Capital Advisors now owns 27,729 shares of the company's stock worth $716,000 after buying an additional 1,434 shares in the last quarter. Unison Advisors LLC raised its holdings in shares of Kraft Heinz by 1.4% in the 2nd quarter. Unison Advisors LLC now owns 99,373 shares of the company's stock worth $2,566,000 after buying an additional 1,373 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Kraft Heinz by 5.3% in the 2nd quarter. Stephens Inc. AR now owns 53,872 shares of the company's stock worth $1,391,000 after buying an additional 2,733 shares in the last quarter. Cidel Asset Management Inc. raised its holdings in shares of Kraft Heinz by 20.2% in the 2nd quarter. Cidel Asset Management Inc. now owns 11,032 shares of the company's stock worth $285,000 after buying an additional 1,854 shares in the last quarter. Finally, Foster & Motley Inc. raised its holdings in shares of Kraft Heinz by 4.8% in the 2nd quarter. Foster & Motley Inc. now owns 132,251 shares of the company's stock worth $3,415,000 after buying an additional 6,074 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Up 1.6%

NASDAQ KHC opened at $25.52 on Monday. The stock has a fifty day moving average of $26.54 and a 200-day moving average of $27.22. The stock has a market capitalization of $30.21 billion, a P/E ratio of -5.68, a price-to-earnings-growth ratio of 2.99 and a beta of 0.16. Kraft Heinz Company has a 52 week low of $24.80 and a 52 week high of $36.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07.

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

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.3%. The ex-dividend date was Friday, August 29th. Kraft Heinz's dividend payout ratio (DPR) is currently -35.63%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KHC. Hsbc Global Res raised Kraft Heinz to a "hold" rating in a report on Friday, August 1st. JPMorgan Chase & Co. began coverage on Kraft Heinz in a report on Wednesday, August 20th. They issued a "neutral" rating and a $27.00 target price for the company. DZ Bank raised Kraft Heinz from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. The Goldman Sachs Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and raised their price target for the company from $25.00 to $27.00 in a report on Wednesday, June 25th. Finally, Morgan Stanley cut their price objective on Kraft Heinz from $29.00 to $28.00 in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently 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.

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