LGT Group Foundation Purchases 7,056 Shares of The Kraft Heinz Company (NASDAQ:KHC)

LGT Group Foundation increased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 16.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 49,530 shares of the company’s stock after acquiring an additional 7,056 shares during the quarter. LGT Group Foundation’s holdings in Kraft Heinz were worth $1,596,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KHC. Steward Partners Investment Solutions LLC bought a new stake in shares of Kraft Heinz during the fourth quarter worth $25,000. New Covenant Trust Company N.A. bought a new stake in Kraft Heinz in the 1st quarter valued at $27,000. Asset Dedication LLC boosted its stake in Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares during the period. Hantz Financial Services Inc. bought a new position in Kraft Heinz during the 2nd quarter worth about $34,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at about $38,000. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $36.05 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $43.59 billion, a P/E ratio of 15.74, a P/E/G ratio of 3.49 and a beta of 0.49. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The stock has a 50 day moving average of $34.22 and a 200-day moving average of $35.06.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the firm posted $0.79 EPS. The company’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

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

Wall Street Analysts Forecast Growth

KHC has been the subject of several recent research reports. Barclays upped their price objective on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Bank of America reduced their price target 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. The Goldman Sachs Group assumed coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective on the stock. Evercore ISI decreased their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and an average price target of $37.31.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

About Kraft Heinz

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.