Entropy Technologies LP Invests $7.79 Million in Kraft Heinz Company (NASDAQ:KHC)

Key Points

• Entropy Technologies LP acquired a new stake in Kraft Heinz Company, purchasing 255,988 shares valued at approximately $7.79 million, making it the firm's 20th largest position.
• Following recent transactions, institutional investors now own 78.17% of Kraft Heinz stock, showing increased confidence in the company's performance.
• Kraft Heinz declared a quarterly dividend of $0.40 per share, representing a 5.8% dividend yield, with a payout ratio of -35.63%.

Entropy Technologies LP bought a new stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 255,988 shares of the company's stock, valued at approximately $7,790,000. Kraft Heinz makes up 0.8% of Entropy Technologies LP's portfolio, making the stock its 20th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Kraft Heinz by 12.7% during the first quarter. Vanguard Group Inc. now owns 101,980,834 shares of the company's stock worth $3,103,277,000 after acquiring an additional 11,472,071 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Kraft Heinz by 12.6% during the 4th quarter. Northern Trust Corp now owns 9,289,691 shares of the company's stock worth $285,286,000 after buying an additional 1,039,885 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Kraft Heinz by 23.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,585,167 shares of the company's stock worth $263,650,000 after buying an additional 1,628,516 shares in the last quarter. Bank of New York Mellon Corp raised its position in Kraft Heinz by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 8,171,720 shares of the company's stock valued at $248,665,000 after buying an additional 103,548 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Kraft Heinz by 4,390.7% in the first quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company's stock worth $226,523,000 after purchasing an additional 7,278,295 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

KHC traded down $0.08 during midday trading on Tuesday, hitting $27.35. 13,477,475 shares of the company traded hands, compared to its average volume of 14,234,698. The business has a 50 day simple moving average of $26.94 and a two-hundred day simple moving average of $28.45. Kraft Heinz Company has a 52-week low of $25.44 and a 52-week high of $36.53. The company has a market capitalization of $32.37 billion, a price-to-earnings ratio of -6.09, a PEG ratio of 3.20 and a beta of 0.23. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47.

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

Kraft Heinz Dividend Announcement

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

Insider Buying and Selling

In related news, Director Elio Leoni Sceti sold 25,000 shares of the 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 of the company's stock, valued at $1,116,400. This represents a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group increased their price target on Kraft Heinz from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. The Goldman Sachs Group upgraded shares of Kraft Heinz from a "sell" rating to a "neutral" rating and lifted their target price for the company from $25.00 to $27.00 in a research report on Wednesday, June 25th. Hsbc Global Res upgraded shares of Kraft Heinz to a "hold" rating in a research report on Friday, August 1st. DZ Bank lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a research report on Friday, May 9th. Finally, Wells Fargo & Company lifted their target price 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. Three research analysts have rated the stock with a sell rating and seventeen have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $30.35.

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.