Intech Investment Management LLC Grows Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Intech Investment Management LLC grew its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 24.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,300 shares of the company’s stock after purchasing an additional 38,365 shares during the period. Intech Investment Management LLC’s holdings in Kraft Heinz were worth $6,389,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KHC. Capital World Investors grew its position 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 valued at $321,388,000 after purchasing an additional 3,961,872 shares in the last quarter. 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 last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Kraft Heinz by 346.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock worth $57,799,000 after acquiring an additional 1,179,863 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Kraft Heinz by 56.7% during the 1st quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after acquiring an additional 1,027,636 shares during the last quarter. Finally, Poplar Forest Capital LLC bought a new stake in shares of Kraft Heinz during the 2nd quarter worth $26,353,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KHC shares. Piper Sandler dropped their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Evercore ISI dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Bank of America dropped 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. Finally, The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz has an average rating of “Hold” and a consensus price target of $37.50.

Kraft Heinz Price Performance

KHC stock opened at $34.96 on Friday. The firm’s 50-day moving average price is $34.80 and its two-hundred day moving average price is $35.04. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96. The stock has a market capitalization of $42.45 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 3.43 and a beta of 0.49. 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 net margin of 7.30% and a return on equity of 7.38%. The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, equities analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

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

Insider Activity at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the business’s 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 transaction, the insider now owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by corporate insiders.

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.