Oak Thistle LLC Acquires Shares of 11,663 The Kraft Heinz Company (NASDAQ:KHC)

Oak Thistle LLC acquired a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,663 shares of the company’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. TCW Group Inc. acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at $1,098,000. Shell Asset Management Co. increased its stake in shares of Kraft Heinz by 251.3% in the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock valued at $1,251,000 after buying an additional 24,199 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Kraft Heinz by 120.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock valued at $5,079,000 after buying an additional 75,149 shares in the last quarter. Bridgewater Associates LP increased its stake in shares of Kraft Heinz by 7.7% in the fourth quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after buying an additional 118,260 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Kraft Heinz by 13.2% in the first quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after buying an additional 234,783 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of research reports. Evercore ISI lowered their target price 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. JPMorgan Chase & Co. lowered their price objective 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. Piper Sandler lowered their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Citigroup lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Bank of America lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $37.31.

Kraft Heinz Trading Up 0.6 %

NASDAQ:KHC opened at $36.05 on Tuesday. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The stock has a market capitalization of $43.59 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 3.49 and a beta of 0.49. The business’s 50-day simple moving average is $34.22 and its 200-day simple moving average is $35.06.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the previous year, the business posted $0.79 EPS. Kraft Heinz’s revenue for the quarter was down 3.3% on a year-over-year basis. Sell-side analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Insider Activity

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the business’s 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 sale, the insider now owns 143,970 shares in the company, valued at approximately $5,182,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

Kraft Heinz 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.