Oppenheimer Asset Management Inc. Invests $6 Million in The Kraft Heinz Company (NASDAQ:KHC)

Oppenheimer Asset Management Inc. purchased a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 186,231 shares of the company’s stock, valued at approximately $6,000,000.

Several other hedge funds and other institutional investors have also modified their holdings of KHC. Vanguard Group Inc. increased its position in shares of Kraft Heinz by 0.3% during 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 increased its position in shares of Kraft Heinz by 2.1% during 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 in the last quarter. Capital World Investors increased its position 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. Cooke & Bieler LP grew its holdings in shares of Kraft Heinz by 4.7% during the second quarter. Cooke & Bieler LP now owns 3,402,510 shares of the company’s stock worth $109,629,000 after buying an additional 153,490 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Kraft Heinz by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock worth $113,960,000 after buying an additional 474,758 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. The Goldman Sachs Group assumed coverage on Kraft Heinz in a report on Monday, August 12th. They set a “sell” rating and a $34.00 price target on the stock. Citigroup lowered their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Bank of America lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lowered their price objective on 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 given a hold rating and six have assigned 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 $37.50.

Insider Activity 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 currently owned by company insiders.

Kraft Heinz Stock Up 1.1 %

Shares of NASDAQ:KHC opened at $35.59 on Monday. 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 company has a market cap of $43.03 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The firm has a 50 day simple moving average of $34.49 and a 200 day simple moving average of $35.04.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. Kraft Heinz’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. As a group, research 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 announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.40 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.50%. Kraft Heinz’s payout ratio is presently 69.87%.

Kraft Heinz Company 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.