Advisors Asset Management Inc. Buys 78,316 Shares of Kraft Heinz Company $KHC

Advisors Asset Management Inc. grew its stake in Kraft Heinz Company (NASDAQ:KHC) by 37.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,031 shares of the company’s stock after purchasing an additional 78,316 shares during the period. Advisors Asset Management Inc.’s holdings in Kraft Heinz were worth $7,437,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Kraft Heinz by 0.4% in the second quarter. Vanguard Group Inc. now owns 102,435,702 shares of the company’s stock worth $2,644,890,000 after buying an additional 454,868 shares during the period. Geode Capital Management LLC grew its position in Kraft Heinz by 14.7% in the 2nd quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock valued at $681,663,000 after acquiring an additional 3,392,470 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Kraft Heinz by 22.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,480,889 shares of the company’s stock worth $318,933,000 after purchasing an additional 1,895,722 shares during the period. Nordea Investment Management AB lifted its position in shares of Kraft Heinz by 11.1% during the second quarter. Nordea Investment Management AB now owns 7,820,516 shares of the company’s stock worth $201,300,000 after purchasing an additional 778,744 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Kraft Heinz by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,875,177 shares of the company’s stock worth $209,201,000 after purchasing an additional 350,067 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KHC. Piper Sandler decreased their price objective on shares of Kraft Heinz from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. HSBC reduced their target price on shares of Kraft Heinz from $29.00 to $27.00 in a research report on Thursday, October 30th. UBS Group decreased their price target on shares of Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. The Goldman Sachs Group dropped their price objective on Kraft Heinz from $30.00 to $27.00 in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kraft Heinz in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Kraft Heinz presently has an average rating of “Reduce” and a consensus target price of $26.58.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $25.44 on Wednesday. The company has a 50 day moving average price of $25.28 and a 200 day moving average price of $26.42. The firm has a market capitalization of $30.11 billion, a P/E ratio of -6.82, a PEG ratio of 2.88 and a beta of 0.16. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Kraft Heinz Company has a 52 week low of $23.70 and a 52 week high of $33.35.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. The business had revenue of $6.39 billion for the quarter. Sell-side analysts expect that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 6.3%. The ex-dividend date is Friday, November 28th. Kraft Heinz’s payout ratio is presently -42.90%.

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.