E Fund Management Co. Ltd. Increases Stake in Kraft Heinz Company (NASDAQ:KHC)

Key Points

• E Fund Management Co. Ltd. doubled its holdings in Kraft Heinz, purchasing an additional 16,427 shares to bring its total to 32,855 shares, valued at approximately $1 million.
• Kraft Heinz reported earnings of $0.69 per share, exceeding analyst expectations of $0.64, with revenue of $6.35 billion for the latest quarter.
• The company announced a quarterly dividend of $0.40 per share, resulting in an annual yield of 5.7% for stockholders of record.

E Fund Management Co. Ltd. raised its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 100.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,855 shares of the company's stock after acquiring an additional 16,427 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Kraft Heinz were worth $1,000,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Rossby Financial LCC purchased a new stake in shares of Kraft Heinz during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in Kraft Heinz in the 1st quarter valued at $33,000. Investment Management Corp VA ADV raised its position in Kraft Heinz by 141.7% in the 1st 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 during the last quarter. Pinney & Scofield Inc. purchased a new stake in Kraft Heinz in the 4th quarter valued at $38,000. Finally, Abound Wealth Management raised its position in Kraft Heinz by 1,157.0% in the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company's stock valued at $38,000 after purchasing an additional 1,157 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analyst Ratings Changes

KHC has been the subject of several research reports. Wells Fargo & Company upped their price target on shares of Kraft Heinz from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Mizuho set a $29.00 price target on shares of Kraft Heinz and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Sanford C. Bernstein downgraded shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $34.00 to $31.00 in a research report on Tuesday, April 22nd. UBS Group upped their price target on shares of Kraft Heinz from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus reduced their price target on shares of Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating and seventeen have given a hold rating to the company's stock. According to MarketBeat, Kraft Heinz presently has a consensus rating of "Hold" and an average target price of $30.35.

Insider Buying and Selling at Kraft Heinz

In other news, Director Elio Leoni Sceti sold 25,000 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $27.91, for a total transaction of $697,750.00. Following the transaction, the director directly owned 40,000 shares in the company, valued at $1,116,400. This represents a 38.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by insiders.

Kraft Heinz Trading Up 0.1%

NASDAQ:KHC traded up $0.02 on Friday, reaching $27.67. The stock had a trading volume of 8,133,610 shares, compared to its average volume of 13,392,902. The company has a market cap of $32.75 billion, a price-to-earnings ratio of -6.16, a P/E/G ratio of 3.22 and a beta of 0.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66. The firm's fifty day moving average is $27.02 and its two-hundred day moving average is $28.40. 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, beating analysts' consensus estimates of $0.64 by $0.05. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.26 billion. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The firm's quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. Equities analysts expect that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business 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 annualized dividend 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%.

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.