Bridges Investment Management Inc. Makes New $851,000 Investment in The Kraft Heinz Company (NASDAQ:KHC)

Bridges Investment Management Inc. acquired a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,400 shares of the company’s stock, valued at approximately $851,000.

A number of other hedge funds also recently made changes to their positions in KHC. Norges Bank acquired a new stake in Kraft Heinz during the 4th quarter valued at $13,417,000. PNC Financial Services Group Inc. boosted 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 worth $7,777,000 after buying an additional 6,135 shares during the period. Coldstream Capital Management Inc. boosted 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 worth $514,000 after buying an additional 586 shares during the period. Hohimer Wealth Management LLC grew its stake in Kraft Heinz by 7.8% in the 4th quarter. Hohimer Wealth Management LLC now owns 24,844 shares of the company’s stock valued at $919,000 after buying an additional 1,790 shares during the last quarter. Finally, TCW Group Inc. acquired a new stake in Kraft Heinz during the fourth quarter worth approximately $1,098,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Evercore ISI decreased their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Barclays increased their price objective on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Citigroup dropped their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Piper Sandler decreased their price target 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. Finally, Wells Fargo & Company lifted their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Kraft Heinz presently has an average rating of “Hold” and an average price target of $37.50.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was 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 owns 143,970 shares of the company’s stock, valued at $5,182,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by insiders.

Kraft Heinz Price Performance

KHC stock opened at $34.96 on Friday. The company’s 50-day moving average price is $34.80 and its two-hundred day moving average price is $35.05. The firm has a market cap of $42.45 billion, a P/E ratio of 15.27, a P/E/G ratio of 3.43 and a beta of 0.49. 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 12 month low of $30.68 and a 12 month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced 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. 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 analysts’ expectations of $6.55 billion. During the same period last year, the firm posted $0.79 earnings per share. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 annualized dividend and a dividend 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.