Choreo LLC Purchases 21,473 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Choreo LLC grew its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 155.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 35,283 shares of the company’s stock after buying an additional 21,473 shares during the period. Choreo LLC’s holdings in Kraft Heinz were worth $1,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TCW Group Inc. purchased a new position in Kraft Heinz in the 4th quarter worth about $1,098,000. Shell Asset Management Co. grew its stake in Kraft Heinz by 251.3% in the 4th quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after acquiring an additional 24,199 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Kraft Heinz by 120.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after acquiring an additional 75,149 shares during the period. Bridgewater Associates LP raised its stake in shares of Kraft Heinz by 7.7% during the fourth quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after acquiring an additional 118,260 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings 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 purchasing an additional 234,783 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

NASDAQ KHC opened at $35.20 on Friday. The firm’s fifty day simple moving average is $34.42 and its two-hundred day simple moving average is $35.05. The firm has a market capitalization of $42.74 billion, a P/E ratio of 15.37, a P/E/G ratio of 3.49 and a beta of 0.49. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results 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. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the business earned $0.79 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s payout ratio is currently 69.87%.

Analyst Ratings Changes

KHC has been the topic of several research reports. Piper Sandler reduced their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft cut their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Barclays upped their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Citigroup reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and an average target price of $37.31.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now owns 143,970 shares in the company, valued at approximately $5,182,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by company 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.