Plato Investment Management Ltd bought a new stake in shares of Kraft Heinz Company (NASDAQ:KHC – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 45,295 shares of the company’s stock, valued at approximately $1,064,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of KHC. Graney & King LLC grew its holdings in Kraft Heinz by 20.5% during the fourth quarter. Graney & King LLC now owns 2,560 shares of the company’s stock valued at $62,000 after purchasing an additional 435 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Kraft Heinz by 1.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 29,623 shares of the company’s stock worth $718,000 after purchasing an additional 490 shares in the last quarter. New England Capital Financial Advisors LLC lifted its stake in shares of Kraft Heinz by 70.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,239 shares of the company’s stock valued at $30,000 after buying an additional 511 shares in the last quarter. Deseret Mutual Benefit Administrators increased its stake in Kraft Heinz by 6.6% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 8,281 shares of the company’s stock worth $201,000 after buying an additional 515 shares in the last quarter. Finally, Bridgewater Associates LP boosted its stake in shares of Kraft Heinz by 1.1% in the fourth quarter. Bridgewater Associates LP now owns 52,833 shares of the company’s stock worth $1,281,000 after acquiring an additional 578 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.
Kraft Heinz Stock Performance
KHC stock opened at $24.82 on Wednesday. Kraft Heinz Company has a 1-year low of $21.03 and a 1-year high of $28.10. The business has a 50-day moving average price of $24.91 and a 200 day moving average price of $23.84. The company has a market capitalization of $29.43 billion, a P/E ratio of -8.68 and a beta of 0.08. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.06 and a quick ratio of 0.68.
Kraft Heinz Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Friday, September 4th. Kraft Heinz’s payout ratio is currently -55.94%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on KHC shares. Barclays lifted their price objective on shares of Kraft Heinz from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Zacks Research raised Kraft Heinz from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Wells Fargo & Company boosted their price target on shares of Kraft Heinz from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Morgan Stanley set a $22.00 target price on shares of Kraft Heinz in a research report on Thursday, April 23rd. Finally, Piper Sandler increased their price target on Kraft Heinz from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $23.62.
Insider Activity at Kraft Heinz
In related news, insider Diana Frost sold 18,502 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $23.05, for a total transaction of $426,471.10. Following the transaction, the insider directly owned 102,667 shares in the company, valued at $2,366,474.35. The trade was a 15.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.24% of the company’s stock.
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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