Empirical Finance LLC Buys 964 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Empirical Finance LLC raised its stake in The Kraft Heinz Company (NASDAQ:KHC) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,613 shares of the company’s stock after acquiring an additional 964 shares during the period. Empirical Finance LLC’s holdings in Kraft Heinz were worth $982,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Steward Partners Investment Solutions LLC purchased a new position in shares of Kraft Heinz in the fourth quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Kraft Heinz during the fourth quarter worth approximately $32,000. BKM Wealth Management LLC purchased a new stake in Kraft Heinz during the fourth quarter valued at approximately $33,000. Headinvest LLC bought a new stake in shares of Kraft Heinz in the 3rd quarter valued at approximately $38,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Kraft Heinz in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Down 0.3 %

Shares of Kraft Heinz stock traded down $0.11 during trading on Friday, hitting $32.07. 6,235,306 shares of the stock traded hands, compared to its average volume of 7,918,450. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The stock’s fifty day simple moving average is $34.12 and its 200 day simple moving average is $35.75. The firm has a market cap of $38.94 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 2.58 and a beta of 0.53. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 EPS. On average, equities analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend was Thursday, June 6th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KHC shares. Bank of America lowered their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company lowered their target price on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Piper Sandler dropped their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.42.

Insider Buying and Selling

In other news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now directly owns 158,266 shares in the company, valued at $5,689,662.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by insiders.

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.