Toroso Investments LLC raised its stake in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 91.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,643 shares of the company’s stock after buying an additional 24,629 shares during the period. Toroso Investments LLC’s holdings in Kraft Heinz were worth $1,997,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthPLAN Partners LLC acquired a new position in Kraft Heinz in the 1st quarter worth about $25,000. Ancora Advisors LLC increased its stake in shares of Kraft Heinz by 69.9% in the first quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock valued at $26,000 after buying an additional 272 shares during the period. Corrado Advisors LLC bought a new position in Kraft Heinz in the 4th quarter valued at approximately $28,000. Heritage Wealth Management LLC acquired a new stake in Kraft Heinz during the 4th quarter worth approximately $29,000. Finally, ST Germain D J Co. Inc. bought a new stake in Kraft Heinz during the 4th quarter worth approximately $30,000. Institutional investors own 75.39% of the company’s stock.
Insider Buying and Selling
In other Kraft Heinz news, CAO Lande Rashida La sold 16,453 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $35.07, for a total value of $577,006.71. Following the transaction, the chief accounting officer now directly owns 206,243 shares of the company’s stock, valued at $7,232,942.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by company insiders.
Kraft Heinz Stock Down 0.9 %
Kraft Heinz (NASDAQ:KHC – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. Kraft Heinz had a net margin of 11.65% and a return on equity of 7.45%. The company had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.80 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The business’s revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that The Kraft Heinz Company will post 2.89 earnings per share for the current fiscal year.
Kraft Heinz Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Thursday, August 31st. Kraft Heinz’s payout ratio is 62.50%.
Analysts Set New Price Targets
A number of brokerages have recently commented on KHC. Mizuho cut their price target on shares of Kraft Heinz from $50.00 to $47.00 in a report on Monday, July 31st. Morgan Stanley reduced their price target on Kraft Heinz from $44.00 to $39.00 in a research report on Wednesday, June 14th. Piper Sandler lowered their price objective on Kraft Heinz from $43.00 to $41.00 in a research report on Monday, June 26th. StockNews.com started coverage on Kraft Heinz in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, TD Cowen started coverage on shares of Kraft Heinz in a report on Wednesday. They set a “market perform” rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Kraft Heinz has an average rating of “Hold” and a consensus target price of $42.00.
Kraft Heinz Profile
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.
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