AGF Management Ltd. Grows Position in The Kraft Heinz Company (NASDAQ:KHC)

AGF Management Ltd. lifted its stake in The Kraft Heinz Company (NASDAQ:KHC) by 30.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,808 shares of the company’s stock after buying an additional 19,524 shares during the quarter. AGF Management Ltd.’s holdings in Kraft Heinz were worth $2,668,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. TCW Group Inc. purchased a new position in shares of Kraft Heinz in the fourth quarter worth $1,098,000. Shell Asset Management Co. lifted its holdings in shares of Kraft Heinz by 251.3% in the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after buying an additional 24,199 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Kraft Heinz by 120.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after purchasing an additional 75,149 shares during the last quarter. Bridgewater Associates LP increased its position in Kraft Heinz by 7.7% in the fourth quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock worth $61,450,000 after purchasing an additional 118,260 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Kraft Heinz by 13.2% in the first quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock worth $74,053,000 after purchasing an additional 234,783 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the company’s 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 transaction, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KHC shares. Wells Fargo & Company boosted 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. Bank of America reduced their price target 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 boosted their price target on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Citigroup reduced their price target 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $37.31.

Kraft Heinz Trading Up 0.1 %

NASDAQ KHC opened at $35.20 on Friday. The company’s 50-day moving average price is $34.42 and its 200-day moving average price is $35.05. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The stock has a market cap of $42.74 billion, a PE ratio of 15.37, a PEG ratio of 3.49 and a beta of 0.49. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The firm 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 revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. Equities research analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s payout ratio 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.