The Kraft Heinz Company (NASDAQ:KHC) Shares Bought by SPC Financial Inc.

SPC Financial Inc. lifted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,010 shares of the company’s stock after buying an additional 602 shares during the period. SPC Financial Inc.’s holdings in Kraft Heinz were worth $419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KHC. Vanguard Group Inc. grew its stake in shares of Kraft Heinz by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock worth $2,603,349,000 after purchasing an additional 183,234 shares in the last quarter. LSV Asset Management lifted its holdings in Kraft Heinz by 2.1% in the second quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after purchasing an additional 189,000 shares during the period. Legal & General Group Plc grew its position in Kraft Heinz by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after buying an additional 799,581 shares in the last quarter. Capital World Investors increased its stake in Kraft Heinz by 83.4% during the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after buying an additional 3,961,872 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Kraft Heinz by 47.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after acquiring an additional 1,778,263 shares during the period. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Price Performance

KHC stock opened at $35.17 on Wednesday. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The firm has a 50-day moving average of $35.06 and a two-hundred day moving average of $35.06. The firm has a market capitalization of $42.71 billion, a PE ratio of 15.36, a P/E/G ratio of 3.39 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.

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

Kraft Heinz Dividend Announcement

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

Insider Buying and Selling at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were 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 $5,182,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on KHC. Evercore ISI lowered their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price target on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Piper Sandler lowered their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Finally, Bank of America cut 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 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $37.45.

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.