DekaBank Deutsche Girozentrale Increases Holdings in The Kraft Heinz Company (NASDAQ:KHC)

DekaBank Deutsche Girozentrale increased its stake in The Kraft Heinz Company (NASDAQ:KHC) by 5.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 500,088 shares of the company’s stock after buying an additional 25,444 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Kraft Heinz were worth $18,269,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Solutions LLC bought a new position in Kraft Heinz in the 4th quarter worth approximately $25,000. New Covenant Trust Company N.A. bought a new position in Kraft Heinz in the 1st quarter worth about $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Kraft Heinz during the fourth quarter valued at about $32,000. Transcendent Capital Group LLC purchased a new stake in shares of Kraft Heinz in the fourth quarter worth about $38,000. Finally, Janiczek Wealth Management LLC lifted its holdings in shares of Kraft Heinz by 409.4% in the first quarter. Janiczek Wealth Management LLC now owns 1,187 shares of the company’s stock worth $44,000 after buying an additional 954 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Up 1.9 %

Shares of NASDAQ KHC traded up $0.66 during midday trading on Friday, hitting $36.06. The stock had a trading volume of 15,882,140 shares, compared to its average volume of 8,236,811. The company has a market cap of $43.60 billion, a P/E ratio of 15.75, a PEG ratio of 3.52 and a beta of 0.53. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $33.34 and its 200-day moving average is $35.31.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the business posted $0.79 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, analysts predict 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 paid a $0.40 dividend. 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 4.44%. Kraft Heinz’s payout ratio is presently 69.87%.

Insider Activity at Kraft Heinz

In related news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the completion of the transaction, the insider now owns 158,266 shares in the company, valued at $5,689,662.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KHC has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday. Citigroup decreased 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. Bank of America decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Evercore ISI reduced their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $37.58.

About Kraft Heinz

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.