The Kraft Heinz Company (NASDAQ:KHC) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in The Kraft Heinz Company (NASDAQ:KHC) by 70.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 174,263 shares of the company’s stock after purchasing an additional 71,755 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Kraft Heinz were worth $5,615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors boosted its holdings in shares of Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after buying an additional 3,961,872 shares during the period. Dimensional Fund Advisors LP boosted its stake in Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after acquiring an additional 1,778,263 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Kraft Heinz by 346.9% during the first 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 raised its position in shares of Kraft Heinz by 56.7% during the 1st quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after purchasing an additional 1,027,636 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Kraft Heinz by 260.8% in the 2nd quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock worth $37,686,000 after purchasing an additional 845,490 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Trading Up 0.8 %

Shares of KHC stock opened at $34.80 on Friday. The stock has a 50-day simple moving average of $34.90 and a 200 day simple moving average of $35.04. The stock has a market capitalization of $42.26 billion, a P/E ratio of 15.20, a P/E/G ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39.

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

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 dividend yield of 4.60%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Piper Sandler reduced their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. Wells Fargo & Company raised their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Barclays boosted 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.45.

Insider Activity

In other news, insider Cory Onell sold 4,076 shares of the business’s 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

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.