OVERSEA CHINESE BANKING Corp Ltd Purchases 74,430 Shares of Kraft Heinz Company $KHC

OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Kraft Heinz Company (NASDAQ:KHC) by 722.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 84,726 shares of the company’s stock after buying an additional 74,430 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Kraft Heinz were worth $2,185,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rossby Financial LCC bought a new position in Kraft Heinz in the first quarter worth about $29,000. Wayfinding Financial LLC purchased a new stake in shares of Kraft Heinz during the first quarter valued at approximately $33,000. Investment Management Corp VA ADV grew its holdings in shares of Kraft Heinz by 141.7% during the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock valued at $35,000 after buying an additional 669 shares during the last quarter. Mid American Wealth Advisory Group Inc. purchased a new stake in Kraft Heinz in the second quarter worth approximately $39,000. Finally, Banque Transatlantique SA purchased a new stake in Kraft Heinz in the first quarter worth approximately $40,000. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Price Performance

Shares of KHC opened at $25.59 on Tuesday. The company has a 50 day moving average price of $26.29 and a 200-day moving average price of $27.09. Kraft Heinz Company has a fifty-two week low of $24.80 and a fifty-two week high of $35.17. The stock has a market capitalization of $30.29 billion, a PE ratio of -5.70, a PEG ratio of 2.96 and a beta of 0.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The firm had revenue of $6.39 billion during the quarter. Equities analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 29th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.3%. The ex-dividend date was Friday, August 29th. Kraft Heinz’s payout ratio is -35.63%.

Analyst Ratings Changes

Several research firms have weighed in on KHC. UBS Group decreased their price target on shares of Kraft Heinz from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Jefferies Financial Group decreased their price objective on shares of Kraft Heinz from $28.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, October 15th. DZ Bank upgraded shares of Kraft Heinz from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Hsbc Global Res upgraded shares of Kraft Heinz to a “hold” rating in a report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Kraft Heinz from $28.00 to $27.00 and set a “hold” rating on the stock in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $28.65.

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.