NewEdge Advisors LLC Boosts Stake in The Kraft Heinz Company (NASDAQ:KHC)

NewEdge Advisors LLC lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 14.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 51,630 shares of the company’s stock after acquiring an additional 6,469 shares during the period. NewEdge Advisors LLC’s holdings in Kraft Heinz were worth $1,664,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KHC. Vanguard Group Inc. raised its position in shares of Kraft Heinz by 0.3% in the 4th 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 during the last quarter. LSV Asset Management grew its holdings 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 valued at $293,450,000 after buying an additional 189,000 shares during the last quarter. Legal & General Group Plc raised its holdings in Kraft Heinz by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after acquiring an additional 799,581 shares during the last quarter. Capital World Investors raised its holdings in Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after acquiring an additional 3,961,872 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Kraft Heinz by 47.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after acquiring an additional 1,778,263 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Up 1.2 %

NASDAQ KHC opened at $34.59 on Friday. The company has a market capitalization of $42.00 billion, a P/E ratio of 15.10, 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 stock’s 50-day moving average price is $35.12 and its 200-day moving average price is $35.04. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39.

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

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 4.63%. Kraft Heinz’s payout ratio is 69.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KHC. 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 note on Thursday, August 1st. Wells Fargo & Company boosted their target price on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Citigroup dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. JPMorgan Chase & Co. decreased their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, Piper Sandler lowered their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.45.

Insider Buying and Selling at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the business’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 owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

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.