Morningstar Investment Management LLC Takes Position in Kraft Heinz Company $KHC

Key Points

• Morningstar Investment Management LLC acquired a stake in Kraft Heinz Company, purchasing 10,840 shares valued at approximately $280,000 in the second quarter of the fiscal year.
• In its latest earnings report, Kraft Heinz reported an EPS of $0.72 and revenue of $6.39 billion, along with a negative net margin of 20.83%.
• The company recently declared a quarterly dividend of $0.40, which equates to an annualized dividend yield of 6.3%.

Morningstar Investment Management LLC acquired a new stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,840 shares of the company's stock, valued at approximately $280,000.

Several other institutional investors and hedge funds have also modified their holdings of KHC. Rossby Financial LCC acquired a new position in shares of Kraft Heinz in the 1st quarter valued at about $29,000. Wayfinding Financial LLC purchased a new position in shares of Kraft Heinz in the 1st quarter valued at about $33,000. Investment Management Corp VA ADV increased its stake in shares of Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock valued at $35,000 after purchasing an additional 669 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of Kraft Heinz in the 1st quarter valued at about $40,000. Finally, Hilltop National Bank purchased a new position in shares of Kraft Heinz in the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 78.17% of the company's stock.

Kraft Heinz Price Performance

NASDAQ:KHC opened at $25.44 on Wednesday. Kraft Heinz Company has a 12 month low of $24.80 and a 12 month high of $36.31. The stock has a 50 day moving average of $26.67 and a two-hundred day moving average of $27.35. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. The firm has a market cap of $30.11 billion, a P/E ratio of -5.67, a price-to-earnings-growth ratio of 2.94 and a beta of 0.16.

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

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were given a $0.40 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.3%. Kraft Heinz's dividend payout ratio is -35.63%.

Wall Street Analyst Weigh In

KHC has been the subject of several recent analyst reports. The Goldman Sachs Group upgraded Kraft Heinz from a "sell" rating to a "neutral" rating and lifted their price target for the company from $25.00 to $27.00 in a research note on Wednesday, June 25th. JPMorgan Chase & Co. initiated coverage on Kraft Heinz in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $27.00 price target for the company. Hsbc Global Res upgraded Kraft Heinz to a "hold" rating in a research note on Friday, August 1st. Morgan Stanley set a $29.00 price target on Kraft Heinz and gave the company an "equal weight" rating in a research note on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Kraft Heinz from $28.00 to $27.00 and set a "hold" rating for the company in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $29.06.

Insider Activity

In other news, Director Elio Leoni Sceti sold 25,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director directly owned 40,000 shares in the company, valued at $1,116,400. This represents a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by company insiders.

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.

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