Summit Trail Advisors LLC Boosts Position in The Kraft Heinz Company (NASDAQ:KHC)

Summit Trail Advisors LLC increased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 60.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,836 shares of the company’s stock after buying an additional 13,542 shares during the quarter. Summit Trail Advisors LLC’s holdings in Kraft Heinz were worth $1,155,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Steward Partners Investment Solutions LLC purchased a new position in shares of Kraft Heinz during the fourth quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new stake in shares of Kraft Heinz in the first quarter valued at about $27,000. Asset Dedication LLC raised its holdings in Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Kraft Heinz in the second quarter valued at approximately $34,000. Finally, Valley Wealth Managers Inc. increased its position in Kraft Heinz by 46.4% during the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after buying an additional 340 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the firm’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 sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. The Goldman Sachs Group started coverage on Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Bank of America cut their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Evercore ISI decreased their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Piper Sandler decreased their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.50.

Kraft Heinz Trading Down 0.1 %

Shares of Kraft Heinz stock opened at $34.96 on Friday. The stock has a market capitalization of $42.45 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96. 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 company has a 50-day simple moving average of $34.80 and a 200 day simple moving average of $35.04.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results 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. The business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share. Research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 4.58%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

About Kraft Heinz

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.