Hodges Capital Management Inc. Acquires Shares of 23,711 Kraft Heinz Co (NASDAQ:KHC)

Hodges Capital Management Inc. acquired a new stake in Kraft Heinz Co (NASDAQ:KHC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,711 shares of the company’s stock, valued at approximately $710,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in shares of Kraft Heinz by 1.2% in the first quarter. State Street Corp now owns 30,556,828 shares of the company’s stock worth $755,976,000 after acquiring an additional 349,254 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Kraft Heinz by 2.3% in the first quarter. Invesco Ltd. now owns 9,173,518 shares of the company’s stock worth $226,953,000 after acquiring an additional 209,032 shares during the last quarter. FDx Advisors Inc. acquired a new stake in shares of Kraft Heinz in the first quarter worth approximately $32,262,000. Bank of New York Mellon Corp boosted its stake in shares of Kraft Heinz by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 5,739,128 shares of the company’s stock worth $183,021,000 after acquiring an additional 246,297 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of Kraft Heinz by 89.8% in the second quarter. LSV Asset Management now owns 5,155,950 shares of the company’s stock worth $164,423,000 after acquiring an additional 2,439,233 shares during the last quarter. 58.02% of the stock is currently owned by institutional investors.

NASDAQ:KHC opened at $32.16 on Friday. Kraft Heinz Co has a 52 week low of $19.99 and a 52 week high of $36.37. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $39.32 billion, a P/E ratio of -214.40, a P/E/G ratio of 2.36 and a beta of 1.04. The stock’s fifty day moving average is $31.53 and its two-hundred day moving average is $31.50.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Thursday, July 30th. The company reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.15. The company had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.54 billion. Kraft Heinz had a positive return on equity of 6.68% and a negative net margin of 0.76%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 earnings per share. Sell-side analysts anticipate that Kraft Heinz Co will post 2.68 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, August 28th were issued a $0.40 dividend. The ex-dividend date was Thursday, August 27th. This represents a $1.60 annualized dividend and a dividend yield of 4.98%. Kraft Heinz’s dividend payout ratio is presently 56.14%.

KHC has been the topic of a number of research analyst reports. BidaskClub lowered Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Goldman Sachs Group lowered Kraft Heinz from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $32.00 to $30.00 in a research note on Monday, June 22nd. Jefferies Financial Group lifted their price objective on Kraft Heinz from $32.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, July 27th. DZ Bank upgraded Kraft Heinz from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Thursday, September 10th. Finally, TheStreet downgraded Kraft Heinz from a “c” rating to a “d+” rating in a research report on Thursday, July 30th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $34.15.

Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

Further Reading: Insider Trading

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

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