Nuveen LLC Takes $61.11 Million Position in Kraft Heinz Company (NASDAQ:KHC)

Key Points

• Nuveen LLC has initiated a new investment in Kraft Heinz Company, purchasing over 2 million shares valued at approximately $61 million, representing about 0.17% of the company.
• The company recently reported earnings of $0.69 per share, exceeding analysts' estimates and generating revenues of $6.35 billion, though it saw a year-over-year revenue decline of 1.9%.
• Kraft Heinz announced a quarterly dividend of $0.40 per share, translating to an annual yield of 5.7%, with the ex-dividend date set for August 29th.

Nuveen LLC acquired a new position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,008,215 shares of the company's stock, valued at approximately $61,110,000. Nuveen LLC owned about 0.17% of Kraft Heinz as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Entropy Technologies LP bought a new position in shares of Kraft Heinz during the first quarter worth approximately $7,790,000. Benjamin Edwards Inc. increased its holdings in shares of Kraft Heinz by 40.1% during the first quarter. Benjamin Edwards Inc. now owns 25,448 shares of the company's stock worth $774,000 after purchasing an additional 7,282 shares during the period. Frank Rimerman Advisors LLC bought a new position in shares of Kraft Heinz during the first quarter worth approximately $1,361,000. Koss Olinger Consulting LLC increased its holdings in shares of Kraft Heinz by 238.2% during the first quarter. Koss Olinger Consulting LLC now owns 65,446 shares of the company's stock worth $1,992,000 after purchasing an additional 46,095 shares during the period. Finally, AlphaCore Capital LLC bought a new position in shares of Kraft Heinz during the first quarter worth approximately $367,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Trading Up 0.1%

KHC stock traded up $0.02 during midday trading on Friday, hitting $27.67. The stock had a trading volume of 8,133,610 shares, compared to its average volume of 13,392,902. The firm has a market cap of $32.75 billion, a P/E ratio of -6.16, a price-to-earnings-growth ratio of 3.22 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 Company has a 1-year low of $25.44 and a 1-year high of $36.53. The business has a fifty day moving average price of $27.02 and a two-hundred day moving average price of $28.40.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) 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 analyst estimates of $6.26 billion. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. Kraft Heinz's revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 earnings per share. On average, sell-side analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business 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. This represents a $1.60 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Friday, August 29th. Kraft Heinz's payout ratio is -35.63%.

Wall Street Analyst Weigh In

KHC has been the topic of several recent research reports. UBS Group raised their target price on shares of Kraft Heinz from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. The Goldman Sachs Group raised shares of Kraft Heinz from a "sell" rating to a "neutral" rating and raised their target price for the stock from $25.00 to $27.00 in a report on Wednesday, June 25th. 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. Hsbc Global Res raised shares of Kraft Heinz to a "hold" rating in a research note on Friday, August 1st. Finally, DZ Bank cut 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. Three investment analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the company's stock. Based on data from MarketBeat, Kraft Heinz currently has an average rating of "Hold" and a consensus price target of $30.35.

Insiders Place Their Bets

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 directly owned 40,000 shares in the company, valued at $1,116,400. This trade represents a 38.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.35% of the company's stock.

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.