Kendall Capital Management Increases Stake in The Kraft Heinz Company (NASDAQ:KHC)

Kendall Capital Management raised its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 36.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,045 shares of the company’s stock after buying an additional 17,071 shares during the quarter. Kendall Capital Management’s holdings in Kraft Heinz were worth $2,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Solutions LLC purchased a new stake in Kraft Heinz during the 4th quarter valued at approximately $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz in the first quarter valued at $27,000. Asset Dedication LLC grew its holdings in shares of 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 purchasing an additional 476 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Kraft Heinz in the fourth quarter valued at $38,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of Kraft Heinz in the second quarter valued at $34,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on KHC shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. The Goldman Sachs Group started coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 target price for the company. Bank of America cut their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Citigroup dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Piper Sandler dropped their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.50.

Insider Activity at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Kraft Heinz Stock Up 0.3 %

NASDAQ:KHC opened at $35.14 on Thursday. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. The company has a market cap of $42.67 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The stock has a fifty day simple moving average of $34.69 and a 200-day simple moving average of $35.05. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business’s revenue for the quarter 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. Analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.40 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.55%. Kraft Heinz’s payout ratio is currently 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.