The Kraft Heinz Company (NASDAQ:KHC) Shares Acquired by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC boosted its position in The Kraft Heinz Company (NASDAQ:KHC) by 18.6% during the second quarter, Holdings Channel.com reports. The fund owned 6,446 shares of the company’s stock after purchasing an additional 1,010 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Kraft Heinz were worth $207,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Solutions LLC purchased a new stake in shares of Kraft Heinz during the 4th quarter worth about $25,000. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz in the 1st quarter worth $27,000. Asset Dedication LLC grew its stake in shares of Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter valued at about $38,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Kraft Heinz during the second quarter worth about $34,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Activity

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

Kraft Heinz Stock Up 0.3 %

KHC opened at $35.14 on Thursday. The stock’s 50 day moving average price is $34.69 and its 200 day moving average price is $35.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The stock has a market cap of $42.67 billion, a P/E ratio of 15.34, a P/E/G ratio of 3.43 and a beta of 0.49. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96.

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

Kraft Heinz Dividend Announcement

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 given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.55%. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on KHC shares. JPMorgan Chase & Co. dropped 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. Piper Sandler decreased their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They set a “sell” rating and a $34.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Evercore ISI dropped their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus price target 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.