Hightower 6M Holding LLC Purchases New Position in The Kraft Heinz Company (NASDAQ:KHC)

Hightower 6M Holding LLC purchased a new stake in The Kraft Heinz Company (NASDAQ:KHCGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 246,760 shares of the company’s stock, valued at approximately $9,720,000. Kraft Heinz makes up about 0.7% of Hightower 6M Holding LLC’s holdings, making the stock its 18th biggest position.

Several other institutional investors have also bought and sold shares of the stock. Fisher Asset Management LLC acquired a new position in Kraft Heinz in the fourth quarter worth $232,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Kraft Heinz by 23.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 42,681 shares of the company’s stock worth $1,533,000 after acquiring an additional 8,047 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of Kraft Heinz by 6.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 93,991 shares of the company’s stock worth $3,374,000 after acquiring an additional 5,420 shares during the last quarter. Empirical Finance LLC raised its position in shares of Kraft Heinz by 38.7% during the fourth quarter. Empirical Finance LLC now owns 11,172 shares of the company’s stock worth $401,000 after acquiring an additional 3,116 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Kraft Heinz by 9.6% during the fourth quarter. Toronto Dominion Bank now owns 432,589 shares of the company’s stock worth $15,531,000 after acquiring an additional 37,794 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on KHC shares. UBS Group downgraded Kraft Heinz from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $40.00 to $34.00 in a research report on Thursday, May 26th. Stifel Nicolaus upgraded Kraft Heinz from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Thursday, July 28th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft dropped their price objective on Kraft Heinz from $48.00 to $47.00 in a report on Monday, July 18th. The Goldman Sachs Group reiterated an “upgrade” rating on shares of Kraft Heinz in a report on Thursday, July 28th. Finally, BMO Capital Markets upgraded Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a report on Wednesday, June 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.30.

Insider Activity

In other news, EVP Marcos Eloi Lima sold 28,855 shares of the stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $36.97, for a total transaction of $1,066,769.35. Following the transaction, the executive vice president now owns 193,938 shares in the company, valued at $7,169,887.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Kraft Heinz news, EVP Marcos Eloi Lima sold 28,855 shares of the firm’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $36.97, for a total transaction of $1,066,769.35. Following the transaction, the executive vice president now owns 193,938 shares in the company, valued at approximately $7,169,887.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Lande Rashida La sold 3,500 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $36.56, for a total value of $127,960.00. Following the transaction, the chief accounting officer now owns 266,627 shares in the company, valued at approximately $9,747,883.12. The disclosure for this sale can be found here. Insiders sold a total of 48,636 shares of company stock valued at $1,788,497 over the last three months. Insiders own 1.40% of the company’s stock.

Kraft Heinz Trading Up 0.2 %

Shares of Kraft Heinz stock traded up $0.07 during trading hours on Tuesday, hitting $38.63. The company’s stock had a trading volume of 45,417 shares, compared to its average volume of 7,398,073. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.89 and a quick ratio of 0.52. The company has a market capitalization of $47.34 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 2.89 and a beta of 0.73. The stock has a 50 day moving average of $37.74 and a 200 day moving average of $38.84. The Kraft Heinz Company has a 12 month low of $32.78 and a 12 month high of $44.87.

Kraft Heinz (NASDAQ:KHCGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Kraft Heinz had a return on equity of 6.82% and a net margin of 5.92%. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. Analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, August 26th will be given a $0.40 dividend. The ex-dividend date is Thursday, August 25th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.14%. Kraft Heinz’s payout ratio is 131.15%.

Kraft Heinz Profile

(Get Rating)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.

Featured Articles

Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.