LSV Asset Management Purchases 189,000 Shares of The Kraft Heinz Company (NASDAQ:KHC)

LSV Asset Management boosted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,107,688 shares of the company’s stock after purchasing an additional 189,000 shares during the quarter. LSV Asset Management’s holdings in Kraft Heinz were worth $293,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in KHC. Steward Partners Investment Solutions LLC bought a new position in Kraft Heinz during the fourth quarter worth about $25,000. New Covenant Trust Company N.A. acquired a new stake in Kraft Heinz in the first quarter worth $27,000. Asset Dedication LLC boosted its position in shares of Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Kraft Heinz in the 2nd quarter valued at $34,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Kraft Heinz in the 4th quarter valued at $38,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on KHC. Barclays lifted their target price on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Citigroup decreased their price objective 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. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. cut their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Evercore ISI dropped their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $37.31.

Kraft Heinz Stock Performance

KHC stock traded down $0.29 during trading hours on Friday, reaching $35.84. The stock had a trading volume of 5,831,944 shares, compared to its average volume of 7,934,222. The stock has a market capitalization of $43.52 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 3.32 and a beta of 0.49. The stock has a 50-day simple moving average of $34.14 and a 200 day simple moving average of $35.07. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. Kraft Heinz’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. Analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s payout ratio is presently 69.87%.

Insider Activity at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the sale, the insider now owns 143,970 shares in the company, valued at approximately $5,182,920. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by company insiders.

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.