Kendall Capital Management Grows Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Kendall Capital Management raised its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 36.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 64,045 shares of the company’s stock after buying an additional 17,071 shares during the period. Kendall Capital Management’s holdings in Kraft Heinz were worth $2,064,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Altrius Capital Management Inc lifted its position in shares of Kraft Heinz by 13.0% during the second quarter. Altrius Capital Management Inc now owns 122,810 shares of the company’s stock valued at $3,957,000 after buying an additional 14,141 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Kraft Heinz during the second quarter valued at about $1,224,000. Elo Mutual Pension Insurance Co increased its holdings in shares of Kraft Heinz by 13.0% during the second quarter. Elo Mutual Pension Insurance Co now owns 80,341 shares of the company’s stock valued at $2,589,000 after acquiring an additional 9,215 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Kraft Heinz by 10.5% during the second quarter. Blair William & Co. IL now owns 250,678 shares of the company’s stock valued at $8,077,000 after acquiring an additional 23,810 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Kraft Heinz by 5.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 85,439 shares of the company’s stock valued at $2,698,000 after acquiring an additional 4,367 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 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 legal filing with the SEC, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

KHC has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Piper Sandler cut their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Evercore ISI cut their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” 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 six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.50.

Kraft Heinz Trading Up 0.3 %

Kraft Heinz stock opened at $35.14 on Thursday. 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. The stock’s 50 day simple moving average is $34.69 and its two-hundred day simple moving average is $35.05. The firm has a market cap of $42.67 billion, a PE ratio of 15.34, a P/E/G ratio of 3.43 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS 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 business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the firm posted $0.79 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

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

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.