Frank Rimerman Advisors LLC bought a new position in Kraft Heinz Company (NASDAQ:KHC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 44,720 shares of the company's stock, valued at approximately $1,361,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Koss Olinger Consulting LLC grew its stake in Kraft Heinz by 238.2% in the 1st quarter. Koss Olinger Consulting LLC now owns 65,446 shares of the company's stock worth $1,992,000 after acquiring an additional 46,095 shares in the last quarter. AlphaCore Capital LLC bought a new position in shares of Kraft Heinz during the first quarter valued at approximately $367,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Kraft Heinz by 22.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,849,072 shares of the company's stock valued at $56,267,000 after purchasing an additional 338,781 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in shares of Kraft Heinz by 20.4% during the first quarter. Y.D. More Investments Ltd now owns 4,806 shares of the company's stock valued at $146,000 after purchasing an additional 814 shares in the last quarter. Finally, Keynote Financial Services LLC boosted its stake in shares of Kraft Heinz by 8.1% during the first quarter. Keynote Financial Services LLC now owns 39,855 shares of the company's stock valued at $1,213,000 after purchasing an additional 2,973 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.
Kraft Heinz Trading Up 0.4%
NASDAQ KHC opened at $27.76 on Friday. The company has a fifty day simple moving average of $26.93 and a two-hundred day simple moving average of $28.46. The stock has a market cap of $32.86 billion, a P/E ratio of -6.18, a P/E/G ratio of 3.23 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.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. The business had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.26 billion. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The business's quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. On average, analysts forecast 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 will be paid on Friday, September 26th. Investors 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 of this dividend is Friday, August 29th. Kraft Heinz's dividend payout ratio (DPR) is -35.63%.
Insider Activity
In related news, Director Elio Leoni Sceti sold 25,000 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $27.91, for a total transaction of $697,750.00. Following the completion of the transaction, the director owned 40,000 shares of the company's stock, valued at $1,116,400. This trade represents a 38.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on KHC shares. DZ Bank downgraded shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective on the stock. in a research note on Friday, May 9th. UBS Group increased their price objective on shares of Kraft Heinz from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Wells Fargo & Company increased their price objective on shares of Kraft Heinz from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Sanford C. Bernstein downgraded shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Finally, Cfra Research downgraded shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $30.35.
Get Our Latest Research Report on KHC
Kraft Heinz Company Profile
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Free Report)
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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