Foresight Capital Management Advisors Inc. Invests $2.89 Million in The Kraft Heinz Company (NASDAQ:KHC)

Foresight Capital Management Advisors Inc. acquired a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 82,356 shares of the company’s stock, valued at approximately $2,892,000. Kraft Heinz comprises 1.7% of Foresight Capital Management Advisors Inc.’s investment portfolio, making the stock its 25th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Kraft Heinz by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock valued at $2,603,349,000 after acquiring an additional 183,234 shares in the last quarter. LSV Asset Management increased its position in Kraft Heinz by 2.1% in the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after buying an additional 189,000 shares during the period. Legal & General Group Plc increased its position in Kraft Heinz by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after buying an additional 799,581 shares during the period. Capital World Investors increased its position in shares of Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after purchasing an additional 3,961,872 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Kraft Heinz by 47.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after purchasing an additional 1,778,263 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction on 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 in the company, valued at $5,182,920. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Performance

Shares of KHC remained flat at $34.59 during mid-day trading on Monday. The stock had a trading volume of 5,086,184 shares, compared to its average volume of 7,886,571. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The stock has a market cap of $42.00 billion, a PE ratio of 15.10, a P/E/G ratio of 3.39 and a beta of 0.49. The business’s fifty day moving average price is $35.12 and its 200-day moving average price is $35.04. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last released 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 return on equity of 7.38% and a net margin of 7.30%. The company had revenue of $6.50 billion during 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 business’s revenue was down 3.3% on a year-over-year basis. Research analysts anticipate 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 was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.63%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on KHC shares. The Goldman Sachs Group started coverage on Kraft Heinz in a research note on Monday, August 12th. They set a “sell” rating and a $34.00 price target on the stock. Barclays upped their price target on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Bank of America cut their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Piper Sandler lowered their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average price target 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.