Bleakley Financial Group LLC Grows Position in Kraft Heinz Company $KHC

Bleakley Financial Group LLC raised its holdings in Kraft Heinz Company (NASDAQ:KHC) by 64.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,603 shares of the company’s stock after acquiring an additional 6,931 shares during the period. Bleakley Financial Group LLC’s holdings in Kraft Heinz were worth $455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Kraft Heinz by 12.7% in the 1st quarter. Vanguard Group Inc. now owns 101,980,834 shares of the company’s stock valued at $3,103,277,000 after acquiring an additional 11,472,071 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Kraft Heinz by 22.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,480,889 shares of the company’s stock valued at $318,933,000 after purchasing an additional 1,895,722 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Kraft Heinz by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 8,171,720 shares of the company’s stock valued at $248,665,000 after purchasing an additional 103,548 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Kraft Heinz by 11.1% during the 2nd quarter. Nordea Investment Management AB now owns 7,820,516 shares of the company’s stock valued at $201,300,000 after purchasing an additional 778,744 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Kraft Heinz by 4,390.7% during the 1st quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company’s stock valued at $226,523,000 after purchasing an additional 7,278,295 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company reduced their price objective on Kraft Heinz from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Kraft Heinz from $28.00 to $27.00 and set a “hold” rating on the stock in a research report on Monday, October 13th. UBS Group reduced their price objective on Kraft Heinz from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. DZ Bank upgraded Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Finally, Jefferies Financial Group reduced their price objective on Kraft Heinz from $28.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $28.65.

Kraft Heinz Trading Down 0.6%

Shares of KHC opened at $25.25 on Monday. The stock has a market capitalization of $29.89 billion, a P/E ratio of -5.62, a PEG ratio of 2.96 and a beta of 0.16. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $26.33 and a two-hundred day simple moving average of $27.11. Kraft Heinz Company has a twelve month low of $24.80 and a twelve month high of $35.17.

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

Kraft Heinz Dividend Announcement

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

About Kraft Heinz

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.