Cypress Capital Group Invests $211,000 in The Kraft Heinz Company (NASDAQ:KHC)

Cypress Capital Group bought a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,546 shares of the company’s stock, valued at approximately $211,000.

A number of other hedge funds have also modified their holdings of KHC. Capital World Investors grew its position in Kraft Heinz by 83.4% in the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after acquiring an additional 3,961,872 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position 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 valued at $57,799,000 after purchasing an additional 1,179,863 shares during the last quarter. Nordea Investment Management AB lifted its position in Kraft Heinz by 56.7% in the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after buying an additional 1,027,636 shares during the last quarter. Swedbank AB bought a new position in Kraft Heinz during the first quarter valued at $25,298,000. Finally, Ilex Capital Partners UK LLP raised its stake in shares of Kraft Heinz by 34.7% in the first quarter. Ilex Capital Partners UK LLP now owns 2,616,278 shares of the company’s stock valued at $96,541,000 after acquiring an additional 674,436 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock traded up $0.39 during trading hours on Friday, reaching $35.91. The stock had a trading volume of 4,385,647 shares, compared to its average volume of 7,981,689. The firm has a market capitalization of $43.61 billion, a PE ratio of 15.68, a PEG ratio of 3.52 and a beta of 0.53. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. The company has a current ratio of 1.01, a quick ratio of 0.61 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average is $33.54 and its 200 day moving average is $35.05.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. Equities analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.40 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.46%. Kraft Heinz’s payout ratio is presently 69.87%.

Insider Activity at Kraft Heinz

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

Wall Street Analyst Weigh In

A number of 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 research note on Wednesday, July 31st. The Goldman Sachs Group started 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 on the stock. Piper Sandler dropped their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Barclays upped their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, Bank of America cut their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $37.31.

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.