BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $5.62 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 70.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 174,263 shares of the company’s stock after purchasing an additional 71,755 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Kraft Heinz were worth $5,615,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds 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 first quarter worth approximately $27,000. Asset Dedication LLC raised its position in 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. Hantz Financial Services Inc. acquired a new stake in Kraft Heinz in the second quarter valued at approximately $34,000. Finally, Valley Wealth Managers Inc. lifted its stake in Kraft Heinz by 46.4% in the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after acquiring an additional 340 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on KHC shares. Citigroup reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Barclays boosted their price target on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price objective on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler decreased their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Finally, Evercore ISI dropped their price target on shares of 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 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.45.

Kraft Heinz Stock Up 0.8 %

KHC opened at $34.80 on Friday. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $38.96. The business has a 50 day moving average of $34.90 and a 200-day moving average of $35.04. The stock has a market capitalization of $42.26 billion, a price-to-earnings ratio of 15.20, 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 released its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the company posted $0.79 EPS. The company’s revenue was down 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently announced 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. This represents a $1.60 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

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.