Bank of Stockton Makes New Investment in The Kraft Heinz Company (NASDAQ:KHC)

Bank of Stockton bought a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,111 shares of the company’s stock, valued at approximately $215,000.

Several other institutional investors have also recently made changes to their positions in KHC. Clifford Capital Partners LLC increased its holdings in shares of Kraft Heinz by 21.4% in the 2nd quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock valued at $14,656,000 after acquiring an additional 80,101 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Kraft Heinz by 13.2% in the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after buying an additional 234,783 shares in the last quarter. Smith Thornton Advisors LLC purchased a new position in shares of Kraft Heinz in the 2nd quarter worth approximately $654,000. MBB Public Markets I LLC purchased a new stake in Kraft Heinz during the second quarter valued at approximately $2,001,000. Finally, Sei Investments Co. boosted its stake in Kraft Heinz by 12.8% in the second quarter. Sei Investments Co. now owns 760,222 shares of the company’s stock valued at $24,495,000 after acquiring an additional 86,311 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC traded down $0.06 during trading on Friday, reaching $34.97. 1,447,388 shares of the company traded hands, compared to its average volume of 7,717,643. The stock has a market cap of $42.46 billion, a P/E ratio of 15.30, a PEG ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a 12-month low of $31.08 and a 12-month high of $38.96. The firm’s fifty day simple moving average is $35.27 and its 200 day simple moving average is $34.93. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39.

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

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KHC shares. Barclays raised 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. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $38.00 in a research note on Friday. Bank of America decreased their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Evercore ISI dropped their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.58.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by insiders.

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.