American Century Companies Inc. Purchases 471,146 Shares of The Kraft Heinz Company (NASDAQ:KHC)

American Century Companies Inc. grew its position in The Kraft Heinz Company (NASDAQ:KHC) by 408.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 586,370 shares of the company’s stock after buying an additional 471,146 shares during the period. American Century Companies Inc.’s holdings in Kraft Heinz were worth $18,893,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Kraft Heinz during the 4th quarter valued at approximately $13,417,000. PNC Financial Services Group Inc. increased its holdings in shares of Kraft Heinz by 3.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 210,297 shares of the company’s stock valued at $7,777,000 after purchasing an additional 6,135 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of Kraft Heinz by 4.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 13,888 shares of the company’s stock valued at $514,000 after purchasing an additional 586 shares in the last quarter. Hohimer Wealth Management LLC increased its holdings in shares of Kraft Heinz by 7.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 24,844 shares of the company’s stock valued at $919,000 after purchasing an additional 1,790 shares in the last quarter. Finally, TCW Group Inc. purchased a new position in shares of Kraft Heinz during the 4th quarter valued at approximately $1,098,000. 78.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KHC. The Goldman Sachs Group began coverage on shares of Kraft Heinz in a report on Monday, August 12th. They set a “sell” rating and a $34.00 target price for the company. Piper Sandler dropped their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Bank of America dropped 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. JPMorgan Chase & Co. lowered their price target 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. Finally, Barclays boosted their price target on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.50.

Insider Buying and Selling at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

Kraft Heinz Stock Down 0.1 %

Shares of NASDAQ:KHC opened at $34.96 on Friday. 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 market capitalization of $42.45 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The firm’s 50-day moving average is $34.80 and its two-hundred day moving average is $35.05. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $38.96.

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 analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $0.40 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 4.58%. Kraft Heinz’s dividend payout ratio is currently 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.