University of Texas Texas AM Investment Management Co. Invests $3.44 Million in The Kraft Heinz Company (NASDAQ:KHC)

University of Texas Texas AM Investment Management Co. bought a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 106,858 shares of the company’s stock, valued at approximately $3,443,000. Kraft Heinz makes up approximately 0.7% of University of Texas Texas AM Investment Management Co.’s investment portfolio, making the stock its 29th largest holding.

Several other large investors have also added to or reduced their stakes in KHC. New Covenant Trust Company N.A. bought a new stake in Kraft Heinz in the first quarter valued at $27,000. Asset Dedication LLC raised its stake in Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after buying an additional 476 shares during the period. Hantz Financial Services Inc. acquired a new stake in Kraft Heinz in the 2nd quarter valued at $34,000. Valley Wealth Managers Inc. lifted its stake in shares of 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 buying an additional 340 shares in the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in shares of Kraft Heinz during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on KHC. Wells Fargo & Company raised their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Citigroup cut their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. The Goldman Sachs Group initiated coverage on Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Bank of America lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.45.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.32% of the stock is owned by corporate insiders.

Kraft Heinz Price Performance

NASDAQ KHC opened at $35.17 on Wednesday. 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 has a market cap of $42.71 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 3.39 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’s 50-day simple moving average is $35.06 and its two-hundred day simple moving average is $35.06.

Kraft Heinz (NASDAQ:KHC) last announced 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. 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 analysts’ expectations of $6.55 billion. During the same period in the prior year, the company posted $0.79 EPS. Kraft Heinz’s revenue was down 3.3% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.55%. Kraft Heinz’s payout ratio is 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.