BlueCrest Capital Management Ltd Makes New $246,000 Investment in The Kraft Heinz Company (NASDAQ:KHC)

BlueCrest Capital Management Ltd bought a new position in The Kraft Heinz Company (NASDAQ:KHC) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 7,000 shares of the company’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors also recently modified their holdings of KHC. Vinva Investment Management Ltd raised its stake in shares of Kraft Heinz by 192.6% during the 3rd quarter. Vinva Investment Management Ltd now owns 39,803 shares of the company’s stock valued at $1,408,000 after purchasing an additional 26,198 shares during the period. Public Sector Pension Investment Board grew its holdings in Kraft Heinz by 138.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 34,751 shares of the company’s stock valued at $1,220,000 after buying an additional 20,200 shares in the last quarter. FORA Capital LLC bought a new stake in shares of Kraft Heinz during the third quarter valued at about $405,000. MetLife Investment Management LLC lifted its holdings in shares of Kraft Heinz by 8.2% in the third quarter. MetLife Investment Management LLC now owns 229,611 shares of the company’s stock worth $8,062,000 after buying an additional 17,304 shares in the last quarter. Finally, CreativeOne Wealth LLC purchased a new stake in shares of Kraft Heinz in the third quarter worth about $231,000. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $31.97 on Friday. The stock’s 50-day moving average is $33.77 and its 200 day moving average is $34.13. The stock has a market cap of $38.66 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 3.65 and a beta of 0.49. The Kraft Heinz Company has a 1-year low of $30.40 and a 1-year high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same period last year, the firm posted $0.72 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.00%. Kraft Heinz’s payout ratio is 144.14%.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the sale, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Citigroup reduced their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Barclays lowered their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Mizuho reduced their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $36.55.

Kraft Heinz 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.