Johnson Investment Counsel Inc. Has $804,000 Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Johnson Investment Counsel Inc. lifted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 66.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,961 shares of the company’s stock after purchasing an additional 9,945 shares during the period. Johnson Investment Counsel Inc.’s holdings in Kraft Heinz were worth $804,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Steward Partners Investment Solutions LLC acquired a new position in Kraft Heinz during the 4th quarter worth $25,000. New Covenant Trust Company N.A. acquired a new position in shares of Kraft Heinz during the first quarter valued at $27,000. Asset Dedication LLC boosted its holdings in Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in Kraft Heinz in the second quarter worth about $34,000. Finally, Transcendent Capital Group LLC bought a new stake in Kraft Heinz during the 4th quarter worth about $38,000. 78.17% of the stock is owned by institutional investors.

Insider Activity

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The transaction 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 insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group began coverage on Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 price target on the stock. Piper Sandler dropped their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft reduced their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Evercore ISI lowered their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.50.

Kraft Heinz Stock Up 1.1 %

NASDAQ:KHC opened at $35.59 on Friday. The stock has a 50-day simple moving average of $34.49 and a 200 day simple moving average of $35.05. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a market cap of $43.03 billion, a PE ratio of 15.54, a PEG ratio of 3.43 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $6.50 billion for 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 was down 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share. On average, sell-side analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Kraft Heinz Company 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.