Frank Rimerman Advisors LLC Buys Shares of 37,370 The Kraft Heinz Company (NASDAQ:KHC)

Frank Rimerman Advisors LLC bought a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 37,370 shares of the company’s stock, valued at approximately $1,204,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Kraft Heinz by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock worth $2,603,349,000 after acquiring an additional 183,234 shares during the period. LSV Asset Management lifted its holdings in shares of Kraft Heinz by 2.1% during the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after acquiring an additional 189,000 shares during the period. Capital World Investors lifted its holdings in shares of Kraft Heinz by 83.4% during the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after acquiring an additional 3,961,872 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Kraft Heinz by 47.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after acquiring an additional 1,778,263 shares during the period. Finally, Cooke & Bieler LP lifted its holdings in shares of Kraft Heinz by 4.7% during the 2nd quarter. Cooke & Bieler LP now owns 3,402,510 shares of the company’s stock worth $109,629,000 after acquiring an additional 153,490 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on KHC shares. The Goldman Sachs Group started coverage on shares of Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. 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 research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft dropped their target price 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, Barclays increased their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.45.

Insider Activity at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction dated 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 through the SEC website. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $34.96 on Monday. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The firm’s 50-day simple moving average is $34.80 and its 200 day simple moving average is $35.04. 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 stock 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.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share 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 in the previous year, the business earned $0.79 earnings per share. The company’s revenue was down 3.3% on a year-over-year basis. Equities analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

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.