TAM Capital Management Inc. Acquires New Shares in The Kraft Heinz Company (NASDAQ:KHC)

TAM Capital Management Inc. acquired a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the second quarter, according to its most recent filing with the SEC. The fund acquired 12,126 shares of the company’s stock, valued at approximately $391,000. Kraft Heinz makes up 0.2% of TAM Capital Management Inc.’s holdings, making the stock its 6th largest holding.

A number of other hedge funds have also bought and sold shares of KHC. Principal Securities Inc. purchased a new position in Kraft Heinz in the 4th quarter valued at approximately $110,000. Dimensional Fund Advisors LP boosted its holdings in Kraft Heinz by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock valued at $113,960,000 after purchasing an additional 474,758 shares during the period. Level Four Advisory Services LLC boosted its holdings in Kraft Heinz by 21.6% in the 4th quarter. Level Four Advisory Services LLC now owns 8,802 shares of the company’s stock valued at $325,000 after purchasing an additional 1,562 shares during the period. Norges Bank bought a new position in Kraft Heinz in the 4th quarter valued at $13,417,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Kraft Heinz by 97.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,873 shares of the company’s stock valued at $1,659,000 after purchasing an additional 22,203 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the transaction, the insider now owns 143,970 shares in the company, valued at $5,182,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on KHC. The Goldman Sachs Group began coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price target for the company. Bank of America cut their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Citigroup cut their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Evercore ISI cut their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.50.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $35.04 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $42.55 billion, a PE ratio of 15.30, a P/E/G ratio of 3.43 and a beta of 0.49. The firm has a fifty day simple moving average of $34.62 and a two-hundred day simple moving average of $35.05. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. Research analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

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.