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

Intech Investment Management LLC increased its stake in The Kraft Heinz Company (NASDAQ:KHC) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 159,935 shares of the company’s stock after purchasing an additional 14,903 shares during the quarter. Intech Investment Management LLC’s holdings in Kraft Heinz were worth $5,902,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Kraft Heinz by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock valued at $2,603,349,000 after buying an additional 183,234 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Kraft Heinz by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,577,285 shares of the company’s stock valued at $169,268,000 after buying an additional 137,169 shares during the period. Dimensional Fund Advisors LP boosted its stake in Kraft Heinz by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock valued at $113,960,000 after buying an additional 474,758 shares during the period. Nordea Investment Management AB boosted its stake in Kraft Heinz by 56.7% during the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after buying an additional 1,027,636 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Kraft Heinz by 11.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,637,388 shares of the company’s stock valued at $97,531,000 after buying an additional 263,061 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Trading Down 1.9 %

NASDAQ:KHC traded down $0.65 during mid-day trading on Friday, reaching $33.12. 6,419,102 shares of the company’s stock traded hands, compared to its average volume of 7,322,866. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96. The firm has a market capitalization of $40.22 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 2.99 and a beta of 0.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. The company has a 50 day moving average price of $33.76 and a 200-day moving average price of $35.58.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the previous year, the business earned $0.68 EPS. Kraft Heinz’s revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts predict that The Kraft Heinz Company will post 3 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 6th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.83%. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the transaction, the insider now owns 158,266 shares in the company, valued at approximately $5,689,662.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

KHC has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Wells Fargo & Company dropped their price target on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, June 27th. Barclays dropped their price target on Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday. Citigroup dropped their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Bank of America dropped their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Kraft Heinz currently has a consensus rating of “Moderate Buy” and an average target price of $38.83.

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.