Altrius Capital Management Inc Acquires 14,141 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Altrius Capital Management Inc grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 13.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 122,810 shares of the company’s stock after purchasing an additional 14,141 shares during the period. Altrius Capital Management Inc’s holdings in Kraft Heinz were worth $3,957,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of KHC. Steward Partners Investment Solutions LLC purchased a new position in Kraft Heinz during the fourth quarter worth about $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz in the 1st quarter worth approximately $27,000. Asset Dedication LLC boosted its stake in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after buying an additional 476 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of Kraft Heinz in the second quarter valued at approximately $34,000. Finally, Valley Wealth Managers Inc. increased its position in shares of Kraft Heinz by 46.4% during the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after acquiring an additional 340 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of recent analyst reports. Bank of America reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Piper Sandler lowered their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Barclays raised their price target on shares of 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 upped their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group initiated coverage on Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $37.50.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $35.14 on Thursday. The business’s fifty day moving average is $34.69 and its 200 day moving average is $35.05. The firm has a market cap of $42.67 billion, a price-to-earnings ratio of 15.34, 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. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share 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 firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the prior year, the business posted $0.79 earnings per share. The company’s revenue was down 3.3% on a year-over-year basis. Research analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The company 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 annualized dividend and a yield of 4.55%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

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.