Amalgamated Bank Grows Stake in The Kraft Heinz Company (NASDAQ:KHC)

Amalgamated Bank grew its position in The Kraft Heinz Company (NASDAQ:KHC) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,079 shares of the company’s stock after buying an additional 697 shares during the quarter. Amalgamated Bank’s holdings in Kraft Heinz were worth $5,351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Steward Partners Investment Solutions LLC bought a new position in shares of Kraft Heinz in the 4th quarter worth $25,000. New Covenant Trust Company N.A. bought a new position in Kraft Heinz in the first quarter worth about $27,000. Asset Dedication LLC lifted its position in shares of Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after buying an additional 476 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Kraft Heinz in the 2nd quarter valued at about $34,000. Finally, Valley Wealth Managers Inc. grew its position in shares of Kraft Heinz by 46.4% in the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after buying an additional 340 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

KHC has been the subject of several recent analyst reports. 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. The Goldman Sachs Group started coverage on Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. Barclays upped their target price on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.50.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock opened at $34.96 on Friday. The firm has a market cap of $42.45 billion, a PE ratio of 15.27, a P/E/G ratio of 3.43 and a beta of 0.49. The business has a 50-day moving average price of $34.80 and a 200 day moving average price of $35.05. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96.

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 the consensus estimate of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the firm posted $0.79 earnings per share. The company’s revenue was down 3.3% compared to the same quarter last year. Sell-side analysts predict that The Kraft Heinz Company will post 3.02 earnings per share 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 $0.40 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.58%. Kraft Heinz’s payout ratio is currently 69.87%.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was 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 in the company, valued at approximately $5,182,920. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

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.