Intech Investment Management LLC Increases Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Intech Investment Management LLC raised its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 23.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,645 shares of the company’s stock after purchasing an additional 47,345 shares during the period. Intech Investment Management LLC’s holdings in Kraft Heinz were worth $8,625,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KHC. Edgestream Partners L.P. purchased a new position in Kraft Heinz during the first quarter valued at $325,000. O Shaughnessy Asset Management LLC lifted its stake in shares of Kraft Heinz by 15.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 44,621 shares of the company’s stock worth $1,647,000 after buying an additional 6,031 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Kraft Heinz in the first quarter worth about $439,000. Bessemer Group Inc. lifted its stake in shares of Kraft Heinz by 16.5% in the first quarter. Bessemer Group Inc. now owns 20,608 shares of the company’s stock worth $760,000 after buying an additional 2,914 shares in the last quarter. Finally, Lake Street Advisors Group LLC purchased a new position in shares of Kraft Heinz in the first quarter worth about $202,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Up 0.7 %

Shares of Kraft Heinz stock opened at $31.10 on Friday. The Kraft Heinz Company has a 52-week low of $30.40 and a 52-week high of $38.96. The company has a 50 day moving average of $34.16 and a 200 day moving average of $34.29. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $37.60 billion, a P/E ratio of 28.01, a P/E/G ratio of 3.49 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. As a group, research analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.15%. Kraft Heinz’s payout ratio is 144.14%.

Analysts Set New Price Targets

KHC has been the topic of several research reports. Citigroup decreased their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Barclays dropped their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.55.

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.