M.E. Allison & CO. Inc. Boosts Stock Holdings in Kraft Heinz Company $KHC

M.E. Allison & CO. Inc. grew its position in shares of Kraft Heinz Company (NASDAQ:KHC) by 88.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,715 shares of the company’s stock after purchasing an additional 7,397 shares during the quarter. M.E. Allison & CO. Inc.’s holdings in Kraft Heinz were worth $406,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rossby Financial LCC purchased a new position in shares of Kraft Heinz during the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new stake in Kraft Heinz in the 1st quarter valued at $33,000. Investment Management Corp VA ADV grew its stake in Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock valued at $35,000 after acquiring an additional 669 shares during the period. Abound Wealth Management grew its stake in Kraft Heinz by 1,157.0% in the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company’s stock valued at $38,000 after acquiring an additional 1,157 shares during the period. Finally, Banque Transatlantique SA acquired a new stake in Kraft Heinz in the 1st quarter valued at $40,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Trading Up 0.4%

Shares of KHC opened at $25.15 on Monday. Kraft Heinz Company has a 52-week low of $24.85 and a 52-week high of $36.31. 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’s fifty day moving average is $26.74 and its two-hundred day moving average is $27.40. The stock has a market cap of $29.77 billion, a PE ratio of -5.60, a price-to-earnings-growth ratio of 2.94 and a beta of 0.16.

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

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.60 annualized dividend and a dividend yield of 6.4%. Kraft Heinz’s payout ratio is presently -35.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays dropped their price target on shares of Kraft Heinz from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday. Morgan Stanley set a $29.00 price target on shares of Kraft Heinz and gave the company an “equal weight” rating in a research note on Wednesday, September 3rd. Stifel Nicolaus dropped their price target on shares of Kraft Heinz from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, September 3rd. The Goldman Sachs Group raised shares of Kraft Heinz from a “sell” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $27.00 in a research note on Wednesday, June 25th. Finally, DZ Bank raised shares of Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $29.53.

Insider Buying and Selling at Kraft Heinz

In other news, Director Elio Leoni Sceti sold 25,000 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $27.91, for a total transaction of $697,750.00. Following the transaction, the director owned 40,000 shares of the company’s stock, valued at approximately $1,116,400. The trade was a 38.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

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.