Goodman Financial Corp Buys 10,246 Shares of Kraft Heinz Company (NASDAQ:KHC)

Key Points

• Goodman Financial Corp increased its stake in Kraft Heinz Company by 2.6% during the first quarter, reaching a total of 406,573 shares, valued at approximately $12.37 million.
• A quarterly dividend of $0.40 has been announced for Kraft Heinz, which will be paid on September 26th, reflecting a 5.62% dividend yield.
• Kraft Heinz reported a quarterly earnings per share of $0.69, exceeding expectations, although revenues had a 1.9% decline year-over-year, totaling $6.35 billion.

Goodman Financial Corp grew its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,573 shares of the company's stock after buying an additional 10,246 shares during the quarter. Kraft Heinz makes up 2.7% of Goodman Financial Corp's portfolio, making the stock its 21st largest position. Goodman Financial Corp's holdings in Kraft Heinz were worth $12,372,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of KHC. Hara Capital LLC boosted its stake in shares of Kraft Heinz by 61.9% during the 4th quarter. Hara Capital LLC now owns 1,700 shares of the company's stock worth $52,000 after acquiring an additional 650 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Kraft Heinz by 45.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 85,122 shares of the company's stock valued at $2,614,000 after purchasing an additional 26,641 shares during the last quarter. Wellington Management Group LLP boosted its position in Kraft Heinz by 39.6% during the fourth quarter. Wellington Management Group LLP now owns 176,864 shares of the company's stock worth $5,431,000 after purchasing an additional 50,211 shares during the period. Geode Capital Management LLC increased its holdings in shares of Kraft Heinz by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 19,745,734 shares of the company's stock valued at $604,644,000 after purchasing an additional 595,406 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Kraft Heinz in the fourth quarter valued at about $2,048,000. Institutional investors own 78.17% of the company's stock.

Insider Transactions at Kraft Heinz

In other news, Director Elio Leoni Sceti sold 25,000 shares of Kraft Heinz stock in a transaction on Friday, July 18th. The shares were sold at an average price of $27.91, for a total value of $697,750.00. Following the completion of the sale, the director owned 40,000 shares in the company, valued at $1,116,400. The trade was a 38.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KHC. Citigroup reiterated a "sell" rating and issued a $27.00 price target (down previously from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Sanford C. Bernstein cut shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Wells Fargo & Company lifted 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. Mizuho set a $29.00 price target on Kraft Heinz and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Finally, Stifel Nicolaus decreased their price target on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $30.35.

Kraft Heinz Trading Down 0.2%

KHC traded down $0.05 during midday trading on Friday, hitting $27.41. 16,933,701 shares of the company were exchanged, compared to its average volume of 17,301,668. The firm has a market capitalization of $32.44 billion, a P/E ratio of 9.45, a P/E/G ratio of 3.21 and a beta of 0.23. Kraft Heinz Company has a 1-year low of $25.44 and a 1-year high of $36.53. The firm's 50 day moving average price is $26.87 and its 200-day moving average price is $28.53. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.47.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The firm 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 period in the previous year, the business earned $0.78 EPS. As a group, equities analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.60 annualized dividend and a yield of 5.8%. Kraft Heinz's payout ratio is -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.