Asset Dedication LLC Buys 476 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Asset Dedication LLC boosted its stake in The Kraft Heinz Company (NASDAQ:KHC) by 94.8% in the second quarter, HoldingsChannel reports. The firm owned 978 shares of the company’s stock after acquiring an additional 476 shares during the period. Asset Dedication LLC’s holdings in Kraft Heinz were worth $32,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. NBT Bank N A NY lifted its stake in shares of Kraft Heinz by 2.2% in the 1st quarter. NBT Bank N A NY now owns 12,785 shares of the company’s stock worth $472,000 after purchasing an additional 270 shares during the period. Welch Group LLC increased its holdings in Kraft Heinz by 1.9% during the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock valued at $549,000 after buying an additional 272 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Kraft Heinz by 13.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock worth $89,000 after acquiring an additional 282 shares during the period. Integrated Advisors Network LLC boosted its stake in shares of Kraft Heinz by 2.4% during the 4th quarter. Integrated Advisors Network LLC now owns 12,881 shares of the company’s stock worth $476,000 after acquiring an additional 301 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in shares of Kraft Heinz by 2.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 14,663 shares of the company’s stock valued at $542,000 after acquiring an additional 307 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Trading Up 0.6 %

Kraft Heinz stock opened at $36.05 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The firm’s 50 day moving average price is $34.22 and its 200-day moving average price is $35.06. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $38.96. The stock has a market cap of $43.59 billion, a P/E ratio of 15.74, a PEG ratio of 3.49 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 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 EPS. On average, equities analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s payout ratio is presently 69.87%.

Analyst Ratings Changes

KHC has been the topic of a number of recent research reports. Bank of America decreased their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Citigroup decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Piper Sandler cut their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. JPMorgan Chase & Co. decreased their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Evercore ISI dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.31.

Insider Buying and Selling at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by company insiders.

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.