Kimelman & Baird LLC Buys New Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Kimelman & Baird LLC bought a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,798 shares of the company’s stock, valued at approximately $90,000.

Other hedge funds have also bought and sold shares of the company. Regal Investment Advisors LLC bought a new position in Kraft Heinz in the 2nd quarter valued at about $208,000. Quarry LP bought a new position in Kraft Heinz in the 2nd quarter valued at about $76,000. NewEdge Advisors LLC raised its holdings in Kraft Heinz by 14.3% in the 2nd quarter. NewEdge Advisors LLC now owns 51,630 shares of the company’s stock valued at $1,664,000 after acquiring an additional 6,469 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Kraft Heinz by 11.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 70,401 shares of the company’s stock valued at $2,268,000 after acquiring an additional 7,010 shares during the period. Finally, Creative Planning raised its holdings in Kraft Heinz by 79.0% in the 2nd quarter. Creative Planning now owns 209,567 shares of the company’s stock valued at $6,752,000 after acquiring an additional 92,495 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kraft Heinz

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 shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC opened at $35.11 on Tuesday. The company’s 50 day simple moving average is $35.01 and its 200 day simple moving average is $35.05. The stock has a market capitalization of $42.63 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. 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 Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. As a group, research analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.56%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup lowered their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Evercore ISI lowered their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lowered their target price 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. The Goldman Sachs Group began coverage on shares of Kraft Heinz in a report on Monday, August 12th. They set a “sell” rating and a $34.00 target price on the stock. Finally, Wells Fargo & Company raised their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and a consensus price target of $37.45.

Kraft Heinz Profile

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.