Oppenheimer & Co. Inc. Has $3.32 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Oppenheimer & Co. Inc. lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,895 shares of the company’s stock after acquiring an additional 4,093 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Kraft Heinz were worth $3,315,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of KHC. Principal Securities Inc. acquired a new stake in shares of Kraft Heinz during the 4th quarter valued at $110,000. Dimensional Fund Advisors LP boosted its holdings in shares of Kraft Heinz by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock valued at $113,960,000 after acquiring an additional 474,758 shares in the last quarter. Fiera Capital Corp acquired a new stake in shares of Kraft Heinz during the 4th quarter valued at $706,000. Panagora Asset Management Inc. boosted its holdings in shares of Kraft Heinz by 8.3% during the 4th quarter. Panagora Asset Management Inc. now owns 70,965 shares of the company’s stock valued at $2,624,000 after acquiring an additional 5,460 shares in the last quarter. Finally, Great Lakes Advisors LLC boosted its holdings in shares of Kraft Heinz by 23.4% during the 4th quarter. Great Lakes Advisors LLC now owns 128,440 shares of the company’s stock valued at $4,750,000 after acquiring an additional 24,360 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Up 1.1 %

Shares of NASDAQ:KHC opened at $35.59 on Monday. The company has a market capitalization of $43.03 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 3.43 and a beta of 0.49. 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 business’s 50-day moving average is $34.49 and its 200-day moving average is $35.04. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the company posted $0.79 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. Equities research analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

Analysts Set New Price Targets

KHC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Barclays lifted their target price on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. cut their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Citigroup cut their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Evercore ISI cut 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.50.

Insider Activity at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by corporate insiders.

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.