Argent Trust Co Purchases Shares of 10,958 The Kraft Heinz Company (NASDAQ:KHC)

Argent Trust Co acquired a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,958 shares of the company’s stock, valued at approximately $353,000.

A number of other hedge funds have also recently made changes to their positions in the business. TCW Group Inc. bought a new stake in Kraft Heinz during the fourth quarter worth $1,098,000. Shell Asset Management Co. lifted its position in shares of Kraft Heinz by 251.3% during the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock valued at $1,251,000 after purchasing an additional 24,199 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Kraft Heinz by 120.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after purchasing an additional 75,149 shares during the last quarter. Bridgewater Associates LP grew its position in Kraft Heinz by 7.7% in the 4th quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock worth $61,450,000 after purchasing an additional 118,260 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in Kraft Heinz by 13.2% in the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after buying an additional 234,783 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the transaction, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Down 0.1 %

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

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. As a group, analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors 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 4.58%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KHC. Piper Sandler reduced their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Wells Fargo & Company upped their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Barclays lifted their target price on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Bank of America lowered their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.50.

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.