9,496 Shares in The Kraft Heinz Company (NASDAQ:KHC) Acquired by Wright Investors Service Inc.

Wright Investors Service Inc. purchased a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 9,496 shares of the company’s stock, valued at approximately $306,000.

Several other hedge funds also recently modified their holdings of KHC. Federated Hermes Inc. lifted its holdings in Kraft Heinz by 84.6% in the 4th quarter. Federated Hermes Inc. now owns 6,428 shares of the company’s stock valued at $238,000 after acquiring an additional 2,945 shares during the last quarter. Truist Financial Corp boosted its holdings in Kraft Heinz by 25.2% during the fourth quarter. Truist Financial Corp now owns 306,704 shares of the company’s stock worth $11,342,000 after buying an additional 61,651 shares in the last quarter. PGGM Investments acquired a new position in Kraft Heinz in the fourth quarter worth approximately $1,152,000. Choreo LLC increased its holdings in shares of Kraft Heinz by 40.4% in the fourth quarter. Choreo LLC now owns 11,125 shares of the company’s stock valued at $411,000 after buying an additional 3,204 shares in the last quarter. Finally, Altrius Capital Management Inc raised its position in shares of Kraft Heinz by 1.2% during the fourth quarter. Altrius Capital Management Inc now owns 96,935 shares of the company’s stock worth $3,585,000 after purchasing an additional 1,159 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Piper Sandler dropped their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. JPMorgan Chase & Co. cut their price target 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. Wells Fargo & Company raised their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Citigroup lowered their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Bank of America decreased their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $37.31.

Kraft Heinz Price Performance

Shares of KHC opened at $35.39 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.61 and a current ratio of 1.01. The firm has a market cap of $42.97 billion, a PE ratio of 15.45, a PEG ratio of 3.52 and a beta of 0.53. The firm’s 50 day moving average price is $33.66 and its 200 day moving average price is $35.05. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. Kraft Heinz’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. As a group, research analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 4.52%. Kraft Heinz’s dividend payout ratio (DPR) is presently 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 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 transaction, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is 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.