Neo Ivy Capital Management Takes Position in Kraft Heinz Co (NASDAQ:KHC)

Neo Ivy Capital Management acquired a new stake in shares of Kraft Heinz Co (NASDAQ:KHC) during the second quarter, HoldingsChannel reports. The firm acquired 43,335 shares of the company’s stock, valued at approximately $1,345,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Kraft Heinz by 1.3% during the second quarter. Vanguard Group Inc. now owns 48,427,138 shares of the company’s stock valued at $1,503,178,000 after purchasing an additional 630,178 shares during the period. BlackRock Inc. increased its position in shares of Kraft Heinz by 5.1% during the second quarter. BlackRock Inc. now owns 38,743,271 shares of the company’s stock valued at $1,202,590,000 after purchasing an additional 1,884,480 shares during the period. Magellan Asset Management Ltd increased its position in shares of Kraft Heinz by 12.2% during the first quarter. Magellan Asset Management Ltd now owns 37,093,237 shares of the company’s stock valued at $1,211,094,000 after purchasing an additional 4,046,115 shares during the period. Invesco Ltd. increased its position in shares of Kraft Heinz by 2.7% during the second quarter. Invesco Ltd. now owns 20,084,226 shares of the company’s stock valued at $623,415,000 after purchasing an additional 527,530 shares during the period. Finally, Northern Trust Corp increased its position in shares of Kraft Heinz by 4.5% during the second quarter. Northern Trust Corp now owns 7,780,206 shares of the company’s stock valued at $241,497,000 after purchasing an additional 336,299 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

NASDAQ:KHC traded down $0.01 during trading hours on Friday, reaching $28.14. The company had a trading volume of 6,787,413 shares, compared to its average volume of 8,037,032. The stock has a 50-day moving average of $27.33 and a two-hundred day moving average of $30.54. Kraft Heinz Co has a one year low of $24.86 and a one year high of $58.08. The firm has a market capitalization of $34.34 billion, a PE ratio of 7.97, a PEG ratio of 2.36 and a beta of 0.77. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.58.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.07 billion. Kraft Heinz had a positive return on equity of 6.06% and a negative net margin of 43.40%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, sell-side analysts expect that Kraft Heinz Co will post 2.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend was Tuesday, August 20th. Kraft Heinz’s payout ratio is presently 45.33%.

A number of research firms have recently issued reports on KHC. BMO Capital Markets lowered their price objective on Kraft Heinz from $40.00 to $33.00 and set a “market perform” rating on the stock in a research report on Monday, August 12th. Morgan Stanley lowered their price objective on Kraft Heinz from $32.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. BidaskClub upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Bank of America set a $32.00 price target on Kraft Heinz and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, Piper Jaffray Companies set a $26.00 price target on Kraft Heinz and gave the company a “hold” rating in a research report on Wednesday, September 4th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company. Kraft Heinz has a consensus rating of “Hold” and an average target price of $36.05.

In other Kraft Heinz news, Director Jorge P. Lemann bought 3,496,503 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were bought at an average price of $28.60 per share, for a total transaction of $99,999,985.80. Following the completion of the acquisition, the director now owns 3,516,449 shares of the company’s stock, valued at $100,570,441.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.44, for a total value of $712,952,605.08. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

Featured Article: What is the significance of a dead cat bounce?

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Heinz Co (NASDAQ:KHC).

Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.