Bridges Investment Management Inc. Buys Shares of 26,400 The Kraft Heinz Company (NASDAQ:KHC)

Bridges Investment Management Inc. purchased a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 26,400 shares of the company’s stock, valued at approximately $851,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Steward Partners Investment Solutions LLC bought a new position in Kraft Heinz during the 4th quarter worth $25,000. New Covenant Trust Company N.A. bought a new position in shares of Kraft Heinz during the first quarter worth about $27,000. Asset Dedication LLC lifted its stake in shares of Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares during the period. Hantz Financial Services Inc. bought a new stake in Kraft Heinz in the second quarter valued at approximately $34,000. Finally, Valley Wealth Managers Inc. increased its position in Kraft Heinz by 46.4% during the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after purchasing an additional 340 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Down 0.1 %

KHC stock opened at $34.96 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The stock’s 50 day simple moving average is $34.80 and its 200 day simple moving average is $35.05. The company has a market cap of $42.45 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period last year, the business earned $0.79 EPS. Kraft Heinz’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the transaction, the insider now 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 through this hyperlink. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target 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. The Goldman Sachs Group assumed coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 target price on the stock. 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 report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Finally, Barclays raised their target price on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and a consensus target price of $37.50.

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.