Foundation Resource Management Inc. raised its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 0.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 322,090 shares of the company’s stock after purchasing an additional 2,508 shares during the period. Kraft Heinz accounts for 1.9% of Foundation Resource Management Inc.’s portfolio, making the stock its 22nd largest position. Foundation Resource Management Inc.’s holdings in Kraft Heinz were worth $11,434,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. WealthPLAN Partners LLC purchased a new position in Kraft Heinz in the 1st quarter worth approximately $25,000. Sound Income Strategies LLC raised its stake in shares of Kraft Heinz by 436.2% in the second quarter. Sound Income Strategies LLC now owns 740 shares of the company’s stock worth $26,000 after purchasing an additional 602 shares during the last quarter. Ancora Advisors LLC lifted its holdings in shares of Kraft Heinz by 69.9% during the first quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock valued at $26,000 after purchasing an additional 272 shares in the last quarter. Heritage Wealth Management LLC purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at $29,000. Finally, ST Germain D J Co. Inc. bought a new stake in Kraft Heinz in the 4th quarter worth about $30,000. 75.39% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
KHC has been the topic of several research analyst reports. StockNews.com assumed coverage on shares of Kraft Heinz in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Morgan Stanley dropped their target price on shares of Kraft Heinz from $44.00 to $39.00 in a report on Wednesday, June 14th. Mizuho lowered their price target on Kraft Heinz from $50.00 to $47.00 in a report on Monday, July 31st. Piper Sandler cut their price objective on Kraft Heinz from $43.00 to $41.00 in a report on Monday, June 26th. Finally, TD Cowen assumed coverage on Kraft Heinz in a report on Wednesday, September 13th. They issued a “market perform” rating and a $35.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and a consensus target price of $42.00.
Insiders Place Their Bets
In other Kraft Heinz news, CAO Lande Rashida La sold 16,453 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $35.07, for a total value of $577,006.71. Following the sale, the chief accounting officer now owns 206,243 shares in the company, valued at approximately $7,232,942.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
Kraft Heinz Price Performance
NASDAQ:KHC traded up $0.35 during trading hours on Tuesday, hitting $33.77. 3,280,434 shares of the stock traded hands, compared to its average volume of 7,138,835. The company has a market cap of $41.48 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.49 and a beta of 0.68. The Kraft Heinz Company has a 1 year low of $32.42 and a 1 year high of $42.80. The stock has a 50 day moving average price of $34.52 and a 200 day moving average price of $36.94. The company has a quick ratio of 0.50, a current ratio of 0.95 and a debt-to-equity ratio of 0.39.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.80 billion. Kraft Heinz had a net margin of 11.65% and a return on equity of 7.45%. Kraft Heinz’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS. Sell-side analysts forecast that The Kraft Heinz Company will post 2.89 EPS for the current fiscal year.
Kraft Heinz Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.40 dividend. The ex-dividend date is Thursday, August 31st. This represents a $1.60 dividend on an annualized basis and a yield of 4.74%. Kraft Heinz’s dividend payout ratio is presently 62.50%.
Kraft Heinz Company Profile
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.
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