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

LGT Group Foundation lifted its position in The Kraft Heinz Company (NASDAQ:KHC) by 16.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,530 shares of the company’s stock after purchasing 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 reporting period.

Other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Solutions LLC acquired a new position in shares of Kraft Heinz in the 4th quarter worth approximately $25,000. New Covenant Trust Company N.A. bought a new stake in Kraft Heinz in the first quarter valued at $27,000. Asset Dedication LLC raised its stake in Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Kraft Heinz during the second quarter valued at $34,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Kraft Heinz during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Bank of America dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Piper Sandler decreased 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 raised their price target on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group initiated coverage on Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz has an average rating of “Hold” and an average target price of $37.31.

Kraft Heinz Trading Up 0.6 %

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

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping 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 firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the previous year, the business posted $0.79 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.40 dividend. 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 is currently 69.87%.

Insider Buying and Selling at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz 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.