The Kraft Heinz Company (NASDAQ:KHC) Stake Lifted by Gateway Advisory LLC

Gateway Advisory LLC raised its stake in The Kraft Heinz Company (NASDAQ:KHC) by 11.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,184 shares of the company’s stock after buying an additional 816 shares during the quarter. Gateway Advisory LLC’s holdings in Kraft Heinz were worth $264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall Wace LLP boosted its stake in Kraft Heinz by 260.8% during the 2nd quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock valued at $37,686,000 after purchasing an additional 845,490 shares during the period. Xponance Inc. boosted its position in shares of Kraft Heinz by 3.9% during the second quarter. Xponance Inc. now owns 115,896 shares of the company’s stock worth $3,734,000 after buying an additional 4,400 shares during the period. Bank of Montreal Can grew its holdings in Kraft Heinz by 11.6% in the 2nd quarter. Bank of Montreal Can now owns 1,775,889 shares of the company’s stock worth $62,351,000 after buying an additional 184,932 shares in the last quarter. Public Sector Pension Investment Board increased its position in Kraft Heinz by 47.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 14,551 shares of the company’s stock valued at $469,000 after acquiring an additional 4,714 shares during the period. Finally, Delap Wealth Advisory LLC bought a new stake in Kraft Heinz during the 2nd quarter valued at $228,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Buying and Selling

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 transaction of $146,736.00. Following the transaction, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Down 0.8 %

NASDAQ:KHC opened at $34.68 on Tuesday. The stock has a fifty day simple moving average of $34.85 and a 200 day simple moving average of $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 firm has a market capitalization of $42.11 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate 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. Sell-side analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.61%. Kraft Heinz’s dividend payout ratio is 69.87%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KHC. Barclays raised their price target on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Citigroup dropped their price target 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 17th. Bank of America decreased their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their price target on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and a consensus target price of $37.45.

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.