Pacer Advisors Inc. Boosts Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Pacer Advisors Inc. raised its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 29.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 764,419 shares of the company’s stock after purchasing an additional 175,315 shares during the period. Pacer Advisors Inc. owned 0.06% of Kraft Heinz worth $24,630,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Welch Group LLC lifted its holdings in shares of Kraft Heinz by 1.9% during the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock worth $549,000 after purchasing an additional 272 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Kraft Heinz by 13.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock valued at $89,000 after acquiring an additional 282 shares during the last quarter. Integrated Advisors Network LLC increased its stake in shares of Kraft Heinz by 2.4% in the fourth quarter. Integrated Advisors Network LLC now owns 12,881 shares of the company’s stock worth $476,000 after acquiring an additional 301 shares during the period. HB Wealth Management LLC raised its holdings in shares of Kraft Heinz by 2.5% during the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after purchasing an additional 314 shares during the last quarter. Finally, Lorne Steinberg Wealth Management Inc. lifted its position in Kraft Heinz by 0.3% during the first quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock valued at $4,044,000 after purchasing an additional 335 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Citigroup dropped their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. The Goldman Sachs Group initiated 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. 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 report on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Evercore ISI lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.45.

Kraft Heinz Trading Down 0.1 %

KHC opened at $34.96 on Monday. The business’s 50 day moving average price is $34.80 and its 200 day moving average price is $35.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The stock has a market capitalization of $42.45 billion, a PE ratio of 15.27, a P/E/G ratio of 3.43 and a beta of 0.49. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96.

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

Kraft Heinz Dividend Announcement

The company 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 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 is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction dated 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 transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.32% of the company’s stock.

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.