The Kraft Heinz Company (NASDAQ:KHC) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 47.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,551 shares of the company’s stock after buying an additional 4,714 shares during the period. Public Sector Pension Investment Board’s holdings in Kraft Heinz were worth $469,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KHC. Capital World Investors lifted its stake in shares of Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after purchasing an additional 3,961,872 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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. Mirae Asset Global Investments Co. Ltd. grew its position in Kraft Heinz by 346.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock valued at $57,799,000 after acquiring an additional 1,179,863 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Kraft Heinz by 56.7% during the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after purchasing an additional 1,027,636 shares during the period. Finally, Poplar Forest Capital LLC acquired a new position in shares of Kraft Heinz during the second quarter worth $26,353,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the firm’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 value of $146,736.00. Following the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on KHC. Evercore ISI lowered their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group initiated coverage on Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price target on the stock. Citigroup lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, 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 research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $37.45.

Kraft Heinz Price Performance

KHC opened at $34.17 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $35.10 and its 200 day moving average price is $35.05. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The firm has a market cap of $41.49 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share 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 business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the prior year, the firm earned $0.79 EPS. The business’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, sell-side analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.68%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

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.