Caprock Group LLC Raises Its Share Position in The Kraft Heinz Company (NASDAQ:KHC)

VaselineSeptember 10, 2024

0 4 minutes read

Caprock Group LLC boosted its position in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,970 shares of the company’s stock after buying an additional 2,900 shares during the quarter. Caprock Group LLC’s holdings in Kraft Heinz were worth $1,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of KHC. TCW Group Inc. acquired a new position in shares of Kraft Heinz in the fourth quarter valued at approximately $1,098,000. Shell Asset Management Co. lifted its holdings in shares of Kraft Heinz by 251.3% in the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after purchasing an additional 24,199 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Kraft Heinz by 120.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock valued at $5,079,000 after buying an additional 75,149 shares. of shares in the last quarter. Bridgewater Associates LP boosted its holdings in shares of Kraft Heinz by 7.7% during the fourth quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock worth $61,450,000 after acquiring an additional 118,260 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in Kraft Heinz by 13.2% in the first quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock worth $74,053,000 after purchasing an additional 234,783 shares in the last quarter. 78.17% of shares are owned by institutional investors.

Analysts set new price targets

Several equities research analysts have issued reports on KHC shares. Barclays raised their target price on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Bank of America reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Goldman Sachs Group assumed coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. Citigroup dropped their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Wells Fargo & Company upped their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday. August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Kraft Heinz currently has an average rating of “Hold” and an average target price of $37.31, according to MarketBeat.com.

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Kraft Heinz trading rose 0.6%

KHC opened at $36.05 on Tuesday. The firm has a market cap of $43.59 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 3.49 and a beta of 0.49. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The company has a 50 day simple moving average of $34.22 and a two hundred day simple moving average of $35.06. 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 – Get Your Free Report ) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company’s revenue fell 3.3% year over year. In the same quarter last year, the company posted earnings of $0.79 per share. analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a $0.40 dividend. This represents a dividend of $1.60 on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, August 30. Kraft Heinz’s payout ratio is currently 69.87%.

Insiders place their bets

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, 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 Securities & Exchange Commission, which can be accessed via this hyperlink. 0.32% of shares are currently owned by company insiders.

About Kraft Heinz

(Free Report)

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, soft drinks, coffee and other food products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid brands, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie’s, Pudliszki and Plasmon.