The Kraft Heinz Company (NASDAQ:KHC) Shares Purchased by Stonegate Investment Group LLC

Stonegate Investment Group LLC boosted its stake in The Kraft Heinz Company (NASDAQ:KHC) by 183.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 26,502 shares of the company’s stock after purchasing an additional 17,146 shares during the period. Stonegate Investment Group LLC’s holdings in Kraft Heinz were worth $930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in Kraft Heinz in the first quarter worth $27,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares in the last quarter. Asset Dedication LLC grew its stake in shares of Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares in the last quarter. Bangor Savings Bank bought a new position in shares of Kraft Heinz in the third quarter worth $32,000. Finally, Hantz Financial Services Inc. bought a new position in shares of Kraft Heinz in the second quarter worth $34,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KHC shares. The Goldman Sachs Group started coverage on Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price target for the company. Barclays increased their price target on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. decreased their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.55.

Kraft Heinz Trading Up 0.1 %

Shares of NASDAQ KHC opened at $36.00 on Friday. The Kraft Heinz Company has a 12 month low of $31.08 and a 12 month high of $38.96. The company has a market cap of $43.71 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 3.39 and a beta of 0.49. 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 business has a fifty day simple moving average of $35.20 and a 200-day simple moving average of $34.98.

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

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s dividend payout ratio is 69.87%.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

About Kraft Heinz

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.