MONECO Advisors LLC increased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 15.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,853 shares of the company’s stock after purchasing an additional 2,573 shares during the quarter. MONECO Advisors LLC’s holdings in The Kraft Heinz were worth $769,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KHC. Amundi Pioneer Asset Management Inc. lifted its holdings in The Kraft Heinz by 22.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 654,151 shares of the company’s stock worth $21,358,000 after buying an additional 121,281 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in The Kraft Heinz by 63.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,111,747 shares of the company’s stock worth $44,470,000 after buying an additional 431,517 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in The Kraft Heinz during the 1st quarter worth about $99,000. Envestnet Asset Management Inc. lifted its holdings in The Kraft Heinz by 38.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 219,406 shares of the company’s stock worth $8,776,000 after buying an additional 60,478 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its holdings in The Kraft Heinz by 5.9% during the 1st quarter. Natixis Advisors L.P. now owns 98,704 shares of the company’s stock worth $3,948,000 after buying an additional 5,540 shares during the last quarter. 61.25% of the stock is owned by hedge funds and other institutional investors.
NASDAQ KHC traded down $0.20 during trading hours on Wednesday, hitting $36.01. The company had a trading volume of 233,704 shares, compared to its average volume of 5,995,825. The Kraft Heinz Company has a fifty-two week low of $28.56 and a fifty-two week high of $44.95. The company has a market capitalization of $44.05 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 2.70 and a beta of 1.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 0.87. The firm’s 50 day moving average is $37.74 and its 200 day moving average is $39.97.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Wednesday, September 1st will be issued a $0.40 dividend. The ex-dividend date is Tuesday, August 31st. This represents a $1.60 dividend on an annualized basis and a yield of 4.44%. The Kraft Heinz’s dividend payout ratio is currently 55.56%.
Several analysts have recently weighed in on KHC shares. Zacks Investment Research downgraded The Kraft Heinz from a “hold” rating to a “sell” rating and set a $43.00 target price for the company. in a report on Wednesday, June 30th. Morgan Stanley dropped their price target on The Kraft Heinz from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 5th. Credit Suisse Group dropped their price target on The Kraft Heinz from $38.00 to $33.00 and set an “underperform” rating on the stock in a research report on Thursday, August 5th. Finally, Piper Sandler dropped their price target on The Kraft Heinz from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, August 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, The Kraft Heinz has an average rating of “Hold” and an average target price of $39.27.
In other news, insider Marcos Eloi Lima sold 41,929 shares of The Kraft Heinz stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $36.44, for a total transaction of $1,527,892.76. Following the sale, the insider now owns 191,620 shares of the company’s stock, valued at $6,982,632.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.
The Kraft Heinz Company Profile
The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its products include condiments and sauces, cheese and dairy, ambient meals, frozen and chilled meals and for infant and nutrition.
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