The Kraft Heinz Company (NASDAQ:KHC) Stake Reduced by Kennedy Investment Group

Kennedy Investment Group cut its stake in The Kraft Heinz Company (NASDAQ:KHC) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,923 shares of the company’s stock after selling 296 shares during the period. Kennedy Investment Group’s holdings in Kraft Heinz were worth $1,015,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. LSV Asset Management grew its holdings in Kraft Heinz by 2.1% in the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after buying an additional 189,000 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Kraft Heinz by 9.7% during the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after purchasing an additional 799,581 shares during the period. Capital World Investors raised its stake in shares of Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after purchasing an additional 3,961,872 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after purchasing an additional 1,778,263 shares during the period. Finally, AQR Capital Management LLC grew its position in Kraft Heinz by 14.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company’s stock valued at $130,912,000 after buying an additional 505,180 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. The Goldman Sachs Group initiated coverage on Kraft Heinz in a research note on Monday, August 12th. They set a “sell” rating and a $34.00 price target for the company. Citigroup dropped their price objective on Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Evercore ISI cut their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy 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 $37.55.

Kraft Heinz Stock Down 0.7 %

NASDAQ:KHC traded down $0.24 on Monday, hitting $35.76. 3,307,087 shares of the company’s stock traded hands, compared to its average volume of 7,733,911. The Kraft Heinz Company has a 1 year low of $31.08 and a 1 year high of $38.96. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The company has a market cap of $43.42 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The firm has a 50-day moving average price of $35.20 and a 200-day moving average price of $34.95.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. Equities analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.47%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Insider Activity

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the transaction, the insider now owns 143,970 shares of the company’s stock, valued at $5,182,920. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.

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.