Panagora Asset Management Inc. Has $1.47 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

Panagora Asset Management Inc. cut its stake in The Kraft Heinz Company (NASDAQ:KHC) by 31.6% during the second quarter, HoldingsChannel reports. The fund owned 45,612 shares of the company’s stock after selling 21,085 shares during the quarter. Panagora Asset Management Inc.’s holdings in Kraft Heinz were worth $1,470,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of KHC. Steward Partners Investment Solutions LLC purchased a new stake in shares of Kraft Heinz during the 4th quarter worth about $25,000. New Covenant Trust Company N.A. bought a new position in Kraft Heinz during the first quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new stake in Kraft Heinz in the fourth quarter valued at approximately $38,000. Janiczek Wealth Management LLC grew its position in Kraft Heinz by 409.4% in the first quarter. Janiczek Wealth Management LLC now owns 1,187 shares of the company’s stock worth $44,000 after acquiring an additional 954 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its stake in shares of Kraft Heinz by 128.9% during the 1st quarter. AlphaMark Advisors LLC now owns 1,181 shares of the company’s stock worth $44,000 after purchasing an additional 665 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on KHC. Evercore ISI decreased their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Barclays increased their price target on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. The Goldman Sachs Group began coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. Piper Sandler lowered their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Finally, Wells Fargo & Company boosted their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus target price of $37.31.

Insider Buying and Selling

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Up 1.6 %

KHC stock opened at $35.43 on Friday. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The company has a market cap of $43.02 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 3.52 and a beta of 0.53. The business’s 50-day simple moving average is $33.82 and its 200 day simple moving average is $35.04.

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

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.52%. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

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.