MONECO Advisors LLC Boosts Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

MONECO Advisors LLC raised its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 15.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,853 shares of the company’s stock after acquiring an additional 2,573 shares during the quarter. MONECO Advisors LLC’s holdings in The Kraft Heinz were worth $769,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KHC. Venture Visionary Partners LLC increased its stake in The Kraft Heinz by 32.4% in the 2nd quarter. Venture Visionary Partners LLC now owns 24,947 shares of the company’s stock valued at $1,017,000 after purchasing an additional 6,101 shares in the last quarter. Keybank National Association OH boosted its holdings in The Kraft Heinz by 13.6% in the first quarter. Keybank National Association OH now owns 1,057,373 shares of the company’s stock valued at $42,295,000 after acquiring an additional 126,885 shares during the last quarter. Bell Bank raised its position in The Kraft Heinz by 5.4% in the first quarter. Bell Bank now owns 108,783 shares of the company’s stock valued at $4,351,000 after purchasing an additional 5,595 shares during the period. California State Teachers Retirement System raised its position in The Kraft Heinz by 1.5% in the first quarter. California State Teachers Retirement System now owns 1,202,038 shares of the company’s stock valued at $48,082,000 after purchasing an additional 17,605 shares during the period. Finally, Northern Trust Corp increased its position in shares of The Kraft Heinz by 0.3% during the first quarter. Northern Trust Corp now owns 7,753,261 shares of the company’s stock worth $310,130,000 after acquiring an additional 24,422 shares during the last quarter. 61.25% of the stock is owned by hedge funds and other institutional investors.

Shares of KHC stock traded down $0.20 during trading hours on Wednesday, reaching $36.01. The stock had a trading volume of 233,704 shares, compared to its average volume of 5,995,825. The stock’s fifty day simple moving average is $37.74 and its 200 day simple moving average is $39.97. The firm has a market capitalization of $44.05 billion, a PE ratio of 20.46, a PEG ratio of 2.70 and a beta of 1.12. The company has a current ratio of 1.15, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47. The Kraft Heinz Company has a 12 month low of $28.56 and a 12 month high of $44.95.

The Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, August 4th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.55 billion. The Kraft Heinz had a net margin of 8.20% and a return on equity of 7.34%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 earnings per share. As a group, equities research analysts anticipate that The Kraft Heinz Company will post 2.69 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Wednesday, September 1st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $1.60 annualized dividend and a yield of 4.44%. The Kraft Heinz’s payout ratio is 55.56%.

A number of equities analysts have commented on KHC shares. Piper Sandler decreased their target price on The Kraft Heinz from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, August 20th. Morgan Stanley dropped their price target on The Kraft Heinz from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, August 5th. Zacks Investment Research cut shares of The Kraft Heinz from a “hold” rating to a “sell” rating and set a $43.00 price target on the stock. in a report on Wednesday, June 30th. Finally, Credit Suisse Group decreased their price target on shares of The Kraft Heinz from $38.00 to $33.00 and set an “underperform” rating for the company in a report on Thursday, August 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.27.

In other news, insider Marcos Eloi Lima sold 41,929 shares of the stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $36.44, for a total transaction of $1,527,892.76. Following the completion of the transaction, the insider now directly owns 191,620 shares in the company, valued at approximately $6,982,632.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

About The Kraft Heinz

The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its products include condiments and sauces, cheese and dairy, ambient meals, frozen and chilled meals and for infant and nutrition.

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

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