Pitcairn Co. Acquires Shares of 7,757 The Kraft Heinz Company (NASDAQ:KHC)

Pitcairn Co. acquired a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) in the first quarter, HoldingsChannel.com reports. The firm acquired 7,757 shares of the company’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KHC. Steward Partners Investment Solutions LLC bought a new position in shares of Kraft Heinz in the fourth quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Kraft Heinz in the fourth quarter valued at about $32,000. Transcendent Capital Group LLC bought a new stake in Kraft Heinz during the 4th quarter worth about $38,000. Janiczek Wealth Management LLC raised its holdings in Kraft Heinz by 409.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 1,187 shares of the company’s stock worth $44,000 after purchasing an additional 954 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its holdings in Kraft Heinz by 128.9% during the 1st quarter. AlphaMark Advisors LLC now owns 1,181 shares of the company’s stock worth $44,000 after purchasing an additional 665 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Stock Up 0.7 %

Shares of KHC traded up $0.24 on Thursday, hitting $33.29. The company’s stock had a trading volume of 6,889,902 shares, compared to its average volume of 7,898,631. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average price is $33.57 and its 200-day moving average price is $35.47. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The firm has a market capitalization of $40.42 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 3.29 and a beta of 0.53.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The firm had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities research analysts expect that The Kraft Heinz Company will post 2.99 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Thursday, June 6th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Insider Transactions at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the sale, the insider now owns 158,266 shares in the company, valued at approximately $5,689,662.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Barclays decreased their target price on Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. Piper Sandler decreased their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Wells Fargo & Company decreased their target price on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, June 27th. Finally, Citigroup decreased their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.83.

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.