10,840 Shares in Kraft Heinz Company $KHC Acquired by Morningstar Investment Management LLC

Morningstar Investment Management LLC acquired a new position in Kraft Heinz Company (NASDAQ:KHC) in the 2nd quarter, Holdings Channel reports. The firm acquired 10,840 shares of the company’s stock, valued at approximately $280,000.

Several other hedge funds also recently added to or reduced their stakes in KHC. GAMMA Investing LLC grew its position in Kraft Heinz by 28.1% in the first quarter. GAMMA Investing LLC now owns 15,794 shares of the company’s stock worth $481,000 after acquiring an additional 3,468 shares during the period. Fifth Third Bancorp grew its position in Kraft Heinz by 10.8% in the first quarter. Fifth Third Bancorp now owns 29,567 shares of the company’s stock worth $900,000 after acquiring an additional 2,879 shares during the period. Ritholtz Wealth Management grew its position in Kraft Heinz by 16.2% in the first quarter. Ritholtz Wealth Management now owns 31,792 shares of the company’s stock worth $967,000 after acquiring an additional 4,428 shares during the period. Janney Montgomery Scott LLC grew its position in Kraft Heinz by 9.1% in the first quarter. Janney Montgomery Scott LLC now owns 332,414 shares of the company’s stock worth $10,115,000 after acquiring an additional 27,740 shares during the period. Finally, QRG Capital Management Inc. grew its position in Kraft Heinz by 84.5% in the first quarter. QRG Capital Management Inc. now owns 38,531 shares of the company’s stock worth $1,173,000 after acquiring an additional 17,643 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the firm’s 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 sale, the director directly owned 40,000 shares in the company, valued at $1,116,400. This trade represents a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Kraft Heinz Stock Up 1.3%

Shares of NASDAQ KHC opened at $25.44 on Wednesday. The stock has a market cap of $30.11 billion, a P/E ratio of -5.67, a PEG ratio of 2.94 and a beta of 0.16. 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 12-month low of $24.80 and a 12-month high of $36.31. The business’s fifty day simple moving average is $26.67 and its 200-day simple moving average is $27.35.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. The business had revenue of $6.39 billion for the quarter. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%. As a group, equities analysts predict that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.3%. The ex-dividend date was Friday, August 29th. Kraft Heinz’s dividend payout ratio (DPR) is presently -35.63%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. The Goldman Sachs Group upgraded Kraft Heinz from a “sell” rating to a “neutral” rating and upped their price target for the stock from $25.00 to $27.00 in a research note on Wednesday, June 25th. DZ Bank upgraded Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Morgan Stanley set a $29.00 price target on Kraft Heinz and gave the stock an “equal weight” rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on Kraft Heinz from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Barclays decreased their price target on Kraft Heinz from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $29.06.

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.