Investment Management of Virginia LLC grew its stake in The Kraft Heinz Company (NASDAQ:KHC) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,803 shares of the company’s stock after acquiring an additional 350 shares during the period. Investment Management of Virginia LLC’s holdings in The Kraft Heinz were worth $482,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. National Asset Management Inc. grew its stake in The Kraft Heinz by 7.1% in the 2nd quarter. National Asset Management Inc. now owns 19,236 shares of the company’s stock worth $784,000 after acquiring an additional 1,274 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of The Kraft Heinz by 4.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 277,525 shares of the company’s stock valued at $11,317,000 after purchasing an additional 11,152 shares in the last quarter. MCF Advisors LLC bought a new position in shares of The Kraft Heinz during the second quarter valued at approximately $93,000. Avantax Planning Partners Inc. boosted its stake in shares of The Kraft Heinz by 7.5% during the second quarter. Avantax Planning Partners Inc. now owns 6,299 shares of the company’s stock valued at $257,000 after purchasing an additional 439 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. bought a new position in shares of The Kraft Heinz during the second quarter valued at approximately $200,000. Institutional investors and hedge funds own 61.25% of the company’s stock.
Shares of NASDAQ KHC traded down $0.18 during midday trading on Wednesday, reaching $36.03. The company had a trading volume of 118,663 shares, compared to its average volume of 5,995,825. The stock has a market cap of $44.08 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.70 and a beta of 1.12. The Kraft Heinz Company has a 1 year low of $28.56 and a 1 year high of $44.95. The business’s 50-day simple moving average is $37.74 and its 200 day simple moving average is $39.97. The company has a current ratio of 1.15, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 24th. Investors of record on Wednesday, September 1st will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, August 31st. This represents a $1.60 annualized dividend and a yield of 4.44%. The Kraft Heinz’s dividend payout ratio is presently 55.56%.
In other news, insider Marcos Eloi Lima sold 41,929 shares of the firm’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $36.44, for a total value of $1,527,892.76. Following the transaction, the insider now directly owns 191,620 shares of the company’s stock, valued at $6,982,632.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is owned by company insiders.
A number of research firms have recently issued reports on KHC. Credit Suisse Group dropped their price objective on shares of The Kraft Heinz from $38.00 to $33.00 and set an “underperform” rating on the stock in a research note on Thursday, August 5th. Zacks Investment Research cut shares of The Kraft Heinz from a “hold” rating to a “sell” rating and set a $43.00 target price for the company. in a research report on Wednesday, June 30th. Piper Sandler decreased their target price on shares of The Kraft Heinz from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, August 20th. Finally, Morgan Stanley decreased their target price on shares of The Kraft Heinz from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, August 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.27.
The Kraft Heinz Profile
The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its products include condiments and sauces, cheese and dairy, ambient meals, frozen and chilled meals and for infant and nutrition.
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