Glenview Trust Co purchased a new position in shares of Kraft Heinz Company (NASDAQ:KHC – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 20,066 shares of the company’s stock, valued at approximately $451,000.
Several other large investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Kraft Heinz during the first quarter worth about $207,000. Woodline Partners LP increased its position in Kraft Heinz by 39.0% in the 1st quarter. Woodline Partners LP now owns 73,700 shares of the company’s stock valued at $2,243,000 after acquiring an additional 20,690 shares during the period. NewEdge Advisors LLC raised its stake in shares of Kraft Heinz by 16.6% during the second quarter. NewEdge Advisors LLC now owns 51,222 shares of the company’s stock valued at $1,323,000 after acquiring an additional 7,307 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Kraft Heinz by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 522,147 shares of the company’s stock valued at $13,482,000 after acquiring an additional 4,003 shares during the last quarter. Finally, HUB Investment Partners LLC acquired a new position in shares of Kraft Heinz during the second quarter worth $207,000. 78.17% of the stock is currently owned by institutional investors.
Kraft Heinz Trading Up 2.3%
Shares of KHC stock opened at $25.70 on Friday. Kraft Heinz Company has a 12-month low of $21.03 and a 12-month high of $28.09. The company has a quick ratio of 0.68, a current ratio of 1.06 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average of $25.19 and a 200-day moving average of $23.93. The firm has a market cap of $30.48 billion, a P/E ratio of -8.99 and a beta of 0.08.
Kraft Heinz Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.2%. Kraft Heinz’s dividend payout ratio is presently -55.94%.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. UBS Group increased their target price on shares of Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Wall Street Zen cut shares of Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kraft Heinz from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Sanford C. Bernstein cut shares of Kraft Heinz from a “market perform” rating to an “underperform” rating and cut their price target for the company from $25.00 to $21.00 in a research report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. increased their price target on Kraft Heinz from $21.00 to $22.00 and gave the stock an “underweight” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $23.62.
View Our Latest Analysis on KHC
Insider Activity at Kraft Heinz
In other news, insider Diana Frost sold 18,502 shares of Kraft Heinz stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $23.05, for a total transaction of $426,471.10. Following the completion of the sale, the insider directly owned 102,667 shares of the company’s stock, valued at approximately $2,366,474.35. The trade was a 15.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.24% of the stock is owned by insiders.
About Kraft Heinz
The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.
Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.
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