The Kraft Heinz Company (NASDAQ:KHC) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 23.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 245,645 shares of the company’s stock after purchasing an additional 47,345 shares during the quarter. Intech Investment Management LLC’s holdings in Kraft Heinz were worth $8,625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Edgestream Partners L.P. acquired a new stake in Kraft Heinz during the 1st quarter worth about $325,000. O Shaughnessy Asset Management LLC grew its stake in shares of Kraft Heinz by 15.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 44,621 shares of the company’s stock valued at $1,647,000 after buying an additional 6,031 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of Kraft Heinz in the 1st quarter valued at approximately $439,000. Bessemer Group Inc. grew its stake in shares of Kraft Heinz by 16.5% in the 1st quarter. Bessemer Group Inc. now owns 20,608 shares of the company’s stock valued at $760,000 after buying an additional 2,914 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in shares of Kraft Heinz in the 1st quarter valued at approximately $202,000. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Trading Up 0.7 %

NASDAQ:KHC opened at $31.10 on Friday. The Kraft Heinz Company has a 1-year low of $30.40 and a 1-year high of $38.96. The business’s 50-day moving average price is $34.16 and its two-hundred day moving average price is $34.29. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $37.60 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 3.49 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Kraft Heinz’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. On average, equities analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio is currently 144.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Citigroup cut their target price on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group lowered their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Finally, Evercore ISI decreased their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.55.

Insider Activity at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is 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.