62,115 Shares in The Kraft Heinz Company (NASDAQ:KHC) Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC acquired a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 62,115 shares of the company’s stock, valued at approximately $2,001,000.

A number of other institutional investors have also recently modified their holdings of KHC. AQR Capital Management LLC boosted its position in shares of Kraft Heinz by 14.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company’s stock worth $130,912,000 after acquiring an additional 505,180 shares in the last quarter. Armistice Capital LLC acquired a new stake in shares of Kraft Heinz in the 2nd quarter valued at $240,000. Caxton Associates LP bought a new position in shares of Kraft Heinz in the 2nd quarter valued at $371,000. III Capital Management raised its holdings in shares of Kraft Heinz by 22.8% during the 2nd quarter. III Capital Management now owns 14,524 shares of the company’s stock worth $468,000 after buying an additional 2,695 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Kraft Heinz by 70.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 174,263 shares of the company’s stock worth $5,615,000 after buying an additional 71,755 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KHC has been the subject of several research analyst reports. The Goldman Sachs Group started coverage on Kraft Heinz in a research note on Monday, August 12th. They set a “sell” rating and a $34.00 target price for the company. Bank of America cut their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Barclays increased their price target on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Piper Sandler reduced their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Finally, Citigroup cut their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $37.45.

Insider Activity

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now 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 is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

Kraft Heinz Trading Up 1.6 %

KHC opened at $35.37 on Monday. 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 has a fifty day moving average of $34.96 and a 200-day moving average of $35.05. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. The stock has a market cap of $42.95 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49.

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

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.52%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

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.