The Kraft Heinz Company (NASDAQ:KHC) Shares Bought by VELA Investment Management LLC

VELA Investment Management LLC lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 11.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,770 shares of the company’s stock after acquiring an additional 4,485 shares during the period. VELA Investment Management LLC’s holdings in Kraft Heinz were worth $1,410,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Solutions LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter worth $25,000. New Covenant Trust Company N.A. acquired a new stake in Kraft Heinz during the first quarter worth about $27,000. Transcendent Capital Group LLC acquired a new stake in Kraft Heinz during the fourth quarter worth about $38,000. Hantz Financial Services Inc. acquired a new position in Kraft Heinz in the second quarter valued at approximately $34,000. Finally, AlphaMark Advisors LLC grew its holdings in shares of Kraft Heinz by 128.9% during the first quarter. AlphaMark Advisors LLC now owns 1,181 shares of the company’s stock valued at $44,000 after purchasing an additional 665 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KHC. Barclays raised their price target on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a report on Monday, August 12th. They set a “sell” rating and a $34.00 price target for the company. Evercore ISI dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Bank of America cut their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $37.31.

Insider Activity

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction that occurred on 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 document filed with the SEC, which is available at this link. Insiders own 0.32% of the company’s stock.

Kraft Heinz Price Performance

NASDAQ KHC opened at $36.13 on Friday. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The firm has a market capitalization of $43.87 billion, a PE ratio of 15.78, a P/E/G ratio of 3.32 and a beta of 0.53. The company’s 50 day simple moving average is $34.07 and its 200 day simple moving average is $35.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The company had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.79 EPS. As a group, equities research analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current fiscal 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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

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.