Easterly Investment Partners LLC Invests $3.29 Million in Kraft Heinz Company $KHC

Key Points

• Easterly Investment Partners LLC has made a significant investment of approximately $3.29 million in Kraft Heinz Company, acquiring 127,462 shares in the second quarter.
• Institutional investors currently hold 78.17% of Kraft Heinz's stock, indicating strong interest and involvement from large financial entities.
• Several analysts have cut their target prices for Kraft Heinz, with a consensus rating of "Reduce" and an average price target of $28.65.

Easterly Investment Partners LLC bought a new stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 127,462 shares of the company's stock, valued at approximately $3,291,000.

A number of other large investors also recently added to or reduced their stakes in KHC. Shell Asset Management Co. grew its holdings in shares of Kraft Heinz by 89.7% in the second quarter. Shell Asset Management Co. now owns 90,450 shares of the company's stock valued at $2,335,000 after purchasing an additional 42,758 shares in the last quarter. Swedbank AB grew its holdings in shares of Kraft Heinz by 13.6% during the first quarter. Swedbank AB now owns 878,684 shares of the company's stock worth $26,738,000 after buying an additional 104,872 shares during the last quarter. Lakeshore Capital Group Inc. increased its stake in Kraft Heinz by 39.8% in the 2nd quarter. Lakeshore Capital Group Inc. now owns 37,050 shares of the company's stock valued at $957,000 after buying an additional 10,551 shares during the period. Bard Financial Services Inc. grew its stake in shares of Kraft Heinz by 24.5% during the 2nd quarter. Bard Financial Services Inc. now owns 104,225 shares of the company's stock worth $2,691,000 after purchasing an additional 20,500 shares during the period. Finally, D.A. Davidson & CO. lifted its position in shares of Kraft Heinz by 7.8% during the 1st quarter. D.A. Davidson & CO. now owns 90,252 shares of the company's stock valued at $2,746,000 after acquiring an additional 6,551 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KHC shares. Morgan Stanley dropped their target price on shares of Kraft Heinz from $29.00 to $28.00 in a report on Thursday. Stifel Nicolaus lowered their price target on shares of Kraft Heinz from $30.00 to $28.00 and set a "hold" rating for the company in a report on Wednesday, September 3rd. Weiss Ratings reiterated a "sell (d)" rating on shares of Kraft Heinz in a research note on Wednesday, October 8th. Wells Fargo & Company cut their target price on shares of Kraft Heinz from $29.00 to $27.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 3rd. Finally, Hsbc Global Res upgraded shares of Kraft Heinz to a "hold" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Kraft Heinz currently has a consensus rating of "Reduce" and an average price target of $28.65.

Kraft Heinz Stock Down 0.2%

Shares of KHC opened at $25.13 on Friday. The firm has a market capitalization of $29.74 billion, a P/E ratio of -5.60, a P/E/G ratio of 2.95 and a beta of 0.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07. The company has a 50-day simple moving average of $26.58 and a 200-day simple moving average of $27.29. Kraft Heinz Company has a 52 week low of $24.80 and a 52 week high of $36.31.

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

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 29th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Friday, August 29th. Kraft Heinz's payout ratio is presently -35.63%.

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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