Thoroughbred Financial Services LLC Raises Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Thoroughbred Financial Services LLC raised its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 18.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,446 shares of the company’s stock after purchasing an additional 1,010 shares during the period. Thoroughbred Financial Services LLC’s holdings in Kraft Heinz were worth $207,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Steward Partners Investment Solutions LLC acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at approximately $25,000. New Covenant Trust Company N.A. acquired a new stake in shares of Kraft Heinz in the 1st quarter worth $27,000. Asset Dedication LLC raised its holdings in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Kraft Heinz during the 4th quarter valued at about $38,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Kraft Heinz in the second quarter valued at about $34,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price target 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. Wells Fargo & Company lifted their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Citigroup lowered their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Bank of America reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, Evercore ISI lowered their target price on shares of 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.50.

Insiders Place Their Bets

In related news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction dated 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 owns 143,970 shares of the company’s stock, valued at $5,182,920. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $35.14 on Thursday. The firm’s fifty day simple moving average is $34.69 and its 200-day simple moving average is $35.05. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The stock has a market capitalization 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 current ratio of 1.01 and a quick ratio of 0.53.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS 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 during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the business earned $0.79 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. As a group, equities analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced 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 4.55%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is currently 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.