ICICI Prudential Asset Management Co Ltd Buys 497 Shares of The Kraft Heinz Company (NASDAQ:KHC)

ICICI Prudential Asset Management Co Ltd lifted its stake in The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,518 shares of the company’s stock after purchasing an additional 497 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Kraft Heinz were worth $139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Waldron Private Wealth LLC boosted its position in shares of Kraft Heinz by 2.2% in the 1st quarter. Waldron Private Wealth LLC now owns 13,595 shares of the company’s stock worth $535,000 after purchasing an additional 293 shares in the last quarter. Hodges Capital Management Inc. boosted its position in shares of Kraft Heinz by 1.9% in the 4th quarter. Hodges Capital Management Inc. now owns 15,961 shares of the company’s stock worth $573,000 after purchasing an additional 300 shares in the last quarter. SPC Financial Inc. boosted its position in shares of Kraft Heinz by 4.0% in the 1st quarter. SPC Financial Inc. now owns 7,714 shares of the company’s stock worth $304,000 after purchasing an additional 300 shares in the last quarter. Wealth Alliance Advisory Group LLC boosted its position in shares of Kraft Heinz by 5.4% in the 1st quarter. Wealth Alliance Advisory Group LLC now owns 6,077 shares of the company’s stock worth $239,000 after purchasing an additional 311 shares in the last quarter. Finally, Allworth Financial LP boosted its position in shares of Kraft Heinz by 3.6% in the 1st quarter. Allworth Financial LP now owns 9,036 shares of the company’s stock worth $356,000 after purchasing an additional 312 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Kraft Heinz Price Performance

Shares of KHC opened at $37.57 on Friday. The firm has a market cap of $46.04 billion, a PE ratio of 30.80, a P/E/G ratio of 2.77 and a beta of 0.73. 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 firm has a fifty day simple moving average of $37.57 and a two-hundred day simple moving average of $38.72. The Kraft Heinz Company has a 1-year low of $32.78 and a 1-year high of $44.87.

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

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders 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 dividend yield of 4.26%. The ex-dividend date is Thursday, August 25th. Kraft Heinz’s payout ratio is 131.15%.

Insider Activity

In other news, CAO Lande Rashida La sold 3,500 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $36.56, for a total transaction of $127,960.00. Following the completion of the sale, the chief accounting officer now owns 266,627 shares of the company’s stock, valued at approximately $9,747,883.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Miguel Patricio sold 259,958 shares of the company’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $44.28, for a total value of $11,510,940.24. Following the completion of the transaction, the chief executive officer now owns 1,897,433 shares of the company’s stock, valued at approximately $84,018,333.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lande Rashida La sold 3,500 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $36.56, for a total transaction of $127,960.00. Following the completion of the transaction, the chief accounting officer now directly owns 266,627 shares of the company’s stock, valued at approximately $9,747,883.12. The disclosure for this sale can be found here. Insiders sold a total of 308,594 shares of company stock valued at $13,299,438 in the last 90 days. Company insiders own 1.40% of the company’s stock.

About Kraft Heinz

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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.