Elo Mutual Pension Insurance Co Has $2.59 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Elo Mutual Pension Insurance Co increased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 13.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,341 shares of the company’s stock after purchasing an additional 9,215 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Kraft Heinz were worth $2,589,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. 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. bought a new stake in Kraft Heinz during the first quarter valued at $27,000. Asset Dedication LLC raised its position 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 acquiring an additional 476 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of Kraft Heinz in the 4th quarter worth about $38,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of Kraft Heinz in the 2nd quarter valued at about $34,000. 78.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KHC shares. Wells Fargo & Company lifted their target price on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Bank of America lowered 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 10th. Piper Sandler cut their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Citigroup decreased their price target 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, JPMorgan Chase & Co. cut their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. One equities 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 MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.50.

Insiders Place Their Bets

In related news, insider Cory Onell sold 4,076 shares of the firm’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 transaction, 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 can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Down 0.4 %

NASDAQ:KHC opened at $34.99 on Friday. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The company has a market cap of $42.49 billion, a PE ratio of 15.28, 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. The firm has a 50-day moving average of $34.74 and a 200-day moving average of $35.05.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm 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 company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. As a group, equities research analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio 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.