Foster & Motley Inc. Raises Position in The Kraft Heinz Company (NASDAQ:KHC)

Foster & Motley Inc. grew its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 13.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,145 shares of the company’s stock after buying an additional 11,383 shares during the quarter. Foster & Motley Inc.’s holdings in Kraft Heinz were worth $3,130,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in KHC. Steward Partners Investment Solutions LLC bought a new position in Kraft Heinz in the 4th quarter valued at approximately $25,000. New Covenant Trust Company N.A. bought a new position in shares of Kraft Heinz during the first quarter valued at $27,000. Hantz Financial Services Inc. bought a new position in shares of Kraft Heinz during the second quarter valued at $34,000. Transcendent Capital Group LLC bought a new stake in Kraft Heinz in the 4th quarter worth about $38,000. Finally, Centerpoint Advisors LLC raised its position in Kraft Heinz by 550.0% in the 2nd quarter. Centerpoint Advisors LLC now owns 1,300 shares of the company’s stock worth $42,000 after buying an additional 1,100 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KHC shares. Wells Fargo & Company raised their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Piper Sandler cut their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Evercore ISI decreased their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Barclays raised their price target on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group initiated coverage on Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 price objective for the company. One 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $37.31.

Insider Buying and Selling at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Up 0.2 %

KHC stock opened at $36.13 on Friday. The business’s 50-day moving average price is $34.07 and its 200-day moving average price is $35.07. The stock has a market cap of $43.87 billion, a P/E ratio of 15.78, a PEG ratio of 3.32 and a beta of 0.53. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. On average, equities research analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.43%. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Kraft Heinz Company 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.