Cypress Capital LLC Makes New Investment in The Kraft Heinz Company (NASDAQ:KHC)

Cypress Capital LLC bought a new position in The Kraft Heinz Company (NASDAQ:KHCGet Rating) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,956 shares of the company’s stock, valued at approximately $235,000.

A number of other large investors have also made changes to their positions in KHC. State Street Corp grew its stake in shares of Kraft Heinz by 5.9% during the 4th quarter. State Street Corp now owns 31,946,383 shares of the company’s stock valued at $1,146,875,000 after purchasing an additional 1,787,910 shares during the period. Renaissance Technologies LLC grew its stake in shares of Kraft Heinz by 531.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,045,300 shares of the company’s stock valued at $73,426,000 after acquiring an additional 1,721,500 shares during the period. Artemis Investment Management LLP bought a new position in shares of Kraft Heinz during the 4th quarter valued at approximately $61,135,000. Geode Capital Management LLC grew its stake in shares of Kraft Heinz by 13.2% during the 4th quarter. Geode Capital Management LLC now owns 13,708,881 shares of the company’s stock valued at $491,431,000 after acquiring an additional 1,600,993 shares during the period. Finally, BlackRock Inc. grew its stake in shares of Kraft Heinz by 2.8% during the 4th quarter. BlackRock Inc. now owns 46,721,220 shares of the company’s stock valued at $1,677,292,000 after acquiring an additional 1,261,423 shares during the period. 63.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KHC. UBS Group downgraded Kraft Heinz from a “neutral” rating to a “sell” rating and cut their price objective for the company from $40.00 to $34.00 in a research note on Thursday, May 26th. Mizuho started coverage on Kraft Heinz in a report on Monday, July 18th. They issued a “buy” rating and a $48.00 price target on the stock. Stifel Nicolaus raised Kraft Heinz from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Thursday, July 28th. They noted that the move was a valuation call. The Goldman Sachs Group reaffirmed an “upgrade” rating on shares of Kraft Heinz in a report on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Kraft Heinz from $48.00 to $47.00 in a report on Monday, July 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Kraft Heinz presently has an average rating of “Hold” and a consensus target price of $40.30.

Insider Activity at Kraft Heinz

In related news, CAO Lande Rashida La sold 3,500 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $36.56, for a total transaction of $127,960.00. Following the sale, the chief accounting officer now owns 266,627 shares of the company’s stock, valued at $9,747,883.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Marcos Eloi Lima sold 28,855 shares of the firm’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $36.97, for a total value of $1,066,769.35. Following the completion of the transaction, the executive vice president now directly owns 193,938 shares in the company, valued at $7,169,887.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lande Rashida La sold 3,500 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $36.56, for a total value of $127,960.00. Following the completion of the transaction, the chief accounting officer now owns 266,627 shares of the company’s stock, valued at $9,747,883.12. The disclosure for this sale can be found here. Insiders have sold a total of 308,594 shares of company stock valued at $13,299,438 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Kraft Heinz Price Performance

KHC opened at $37.57 on Friday. The Kraft Heinz Company has a 12-month low of $32.78 and a 12-month high of $44.87. The company has a current ratio of 0.89, a quick ratio of 0.52 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $37.57 and its 200-day simple moving average is $38.72. The company has a market capitalization of $46.04 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 2.77 and a beta of 0.73.

Kraft Heinz (NASDAQ:KHCGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Kraft Heinz had a return on equity of 6.82% and a net margin of 5.92%. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The business’s revenue was down .9% compared to the same quarter last year. On average, equities research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, August 26th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Thursday, August 25th. Kraft Heinz’s payout ratio is currently 131.15%.

Kraft Heinz Company Profile

(Get Rating)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.

Featured Articles

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Kraft Heinz Company (NASDAQ:KHCGet Rating).

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

Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.