The Kraft Heinz Company (NASDAQ:KHC) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC boosted its stake in The Kraft Heinz Company (NASDAQ:KHC) by 14.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,063,076 shares of the company’s stock after purchasing an additional 505,180 shares during the period. AQR Capital Management LLC’s holdings in Kraft Heinz were worth $130,912,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Solutions LLC acquired a new position in shares of Kraft Heinz during the fourth quarter worth $25,000. New Covenant Trust Company N.A. purchased a new stake in Kraft Heinz during the 1st quarter worth $27,000. Asset Dedication LLC lifted its holdings in Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after buying an additional 476 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Kraft Heinz in the 4th quarter valued at about $38,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Kraft Heinz during the second quarter valued at about $34,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

KHC opened at $34.80 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $34.90 and its 200 day moving average price is $35.04. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The firm has a market cap of $42.26 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49.

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

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Analysts Set New Price Targets

Several research firms recently commented on KHC. Barclays boosted their price target on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. 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 research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Piper Sandler reduced their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus price target of $37.45.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The sale was disclosed in a legal filing with the SEC, which is available at 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.