Ingalls & Snyder LLC Grows Position in The Kraft Heinz Company (NASDAQ:KHC)

Ingalls & Snyder LLC raised its position in The Kraft Heinz Company (NASDAQ:KHC) by 779.7% during the second quarter, HoldingsChannel.com reports. The firm owned 92,189 shares of the company’s stock after buying an additional 81,709 shares during the quarter. Ingalls & Snyder LLC’s holdings in Kraft Heinz were worth $2,970,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Federated Hermes Inc. grew its stake in shares of Kraft Heinz by 84.6% in the fourth quarter. Federated Hermes Inc. now owns 6,428 shares of the company’s stock valued at $238,000 after buying an additional 2,945 shares in the last quarter. Truist Financial Corp grew its stake in shares of Kraft Heinz by 25.2% in the fourth quarter. Truist Financial Corp now owns 306,704 shares of the company’s stock valued at $11,342,000 after buying an additional 61,651 shares in the last quarter. Choreo LLC grew its stake in shares of Kraft Heinz by 40.4% in the fourth quarter. Choreo LLC now owns 11,125 shares of the company’s stock valued at $411,000 after buying an additional 3,204 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Kraft Heinz by 28.4% in the fourth quarter. First Trust Direct Indexing L.P. now owns 25,406 shares of the company’s stock valued at $939,000 after buying an additional 5,612 shares in the last quarter. Finally, LGT Group Foundation grew its stake in shares of Kraft Heinz by 0.6% in the fourth quarter. LGT Group Foundation now owns 61,501 shares of the company’s stock valued at $2,260,000 after buying an additional 389 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KHC has been the subject of a number of recent research reports. Bank of America lowered their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Citigroup lowered their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Evercore ISI lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, 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 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $37.31.

Insider Transactions at Kraft Heinz

In related 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 sale, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz Price Performance

Shares of KHC opened at $35.43 on Friday. The firm has a market cap of $42.84 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 3.32 and a beta of 0.53. The stock has a 50 day moving average of $33.82 and a 200-day moving average of $35.04. 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 Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its 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 company had revenue of $6.50 billion during 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 business’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. As a group, analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.52%. Kraft Heinz’s payout ratio is 69.87%.

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.