Kennondale Capital Management LLC Raises Position in Kraft Heinz Company (NASDAQ:KHC)

Kennondale Capital Management LLC grew its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 2,513.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,293 shares of the company's stock after purchasing an additional 36,828 shares during the period. Kennondale Capital Management LLC's holdings in Kraft Heinz were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Hara Capital LLC raised its holdings in shares of Kraft Heinz by 61.9% in 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 last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Kraft Heinz by 4.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 55,155 shares of the company's stock worth $1,708,000 after acquiring an additional 2,527 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in shares of Kraft Heinz by 46.2% in the 4th quarter. Mizuho Securities USA LLC now owns 83,660 shares of the company's stock worth $2,569,000 after acquiring an additional 26,426 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Kraft Heinz by 29.0% in the 4th quarter. American Century Companies Inc. now owns 922,109 shares of the company's stock worth $28,318,000 after acquiring an additional 207,516 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Kraft Heinz in the 4th quarter valued at about $9,755,000. Institutional investors and hedge funds own 78.17% of the company's stock.

Insider Activity

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 transaction of $697,750.00. Following the completion of the sale, the director directly owned 40,000 shares of the company's stock, valued at approximately $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 accessible through this link. Corporate insiders own 0.35% of the company's stock.

Kraft Heinz Price Performance

NASDAQ:KHC traded down $0.14 during trading hours on Thursday, hitting $28.80. The stock had a trading volume of 5,425,869 shares, compared to its average volume of 12,446,989. The company has a 50 day simple moving average of $26.72 and a two-hundred day simple moving average of $28.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.81. Kraft Heinz Company has a one year low of $25.44 and a one year high of $36.53. The firm has a market capitalization of $34.08 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 3.37 and a beta of 0.25.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the firm earned $0.69 EPS. The business's quarterly revenue was down 6.4% compared to the same quarter last year. Research analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date was Friday, May 30th. Kraft Heinz's dividend payout ratio is currently 73.06%.

Analyst Upgrades and Downgrades

KHC has been the subject of several analyst reports. Mizuho set a $29.00 price objective on shares of Kraft Heinz and gave the company a "neutral" rating in a research note on Wednesday, May 28th. UBS Group decreased their price objective on shares of Kraft Heinz from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Sanford C. Bernstein lowered 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. DZ Bank downgraded 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, Stifel Nicolaus reduced their target price 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 sixteen have given a hold rating to the company's stock. Based on data from MarketBeat.com, Kraft Heinz has a consensus rating of "Hold" and an average target price of $30.29.

Kraft Heinz 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.