New Covenant Trust Company N.A. Makes New $27,000 Investment in The Kraft Heinz Company (NASDAQ:KHC)

New Covenant Trust Company N.A. purchased a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 726 shares of the company’s stock, valued at approximately $27,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in KHC. TCW Group Inc. bought a new position in shares of Kraft Heinz in the 4th quarter worth about $1,098,000. Shell Asset Management Co. increased its position in shares of Kraft Heinz by 251.3% during the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after acquiring an additional 24,199 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Kraft Heinz by 120.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after acquiring an additional 75,149 shares during the last quarter. Bridgewater Associates LP boosted its stake in Kraft Heinz by 7.7% during the 4th quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after purchasing an additional 118,260 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Kraft Heinz by 13.2% during the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock worth $74,053,000 after purchasing an additional 234,783 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KHC. Deutsche Bank Aktiengesellschaft decreased their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday. Wells Fargo & Company increased 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. Evercore ISI reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Bank of America decreased their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.58.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction that occurred on Monday, May 6th. The shares were 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 of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Performance

KHC traded up $0.66 during mid-day trading on Friday, reaching $36.06. 15,873,627 shares of the company traded hands, compared to its average volume of 8,069,185. The stock has a market capitalization of $43.79 billion, a P/E ratio of 15.51, a P/E/G ratio of 3.50 and a beta of 0.53. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. The company’s fifty day moving average price is $33.34 and its 200-day moving average price is $35.33.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.36% and a net margin of 7.30%. The company had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the company earned $0.79 earnings per share. Kraft Heinz’s revenue was down 3.3% on a year-over-year basis. On average, sell-side analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

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.