LSV Asset Management Has $293.45 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

LSV Asset Management increased its position in The Kraft Heinz Company (NASDAQ:KHC) by 2.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,107,688 shares of the company’s stock after purchasing an additional 189,000 shares during the period. LSV Asset Management owned about 0.75% of Kraft Heinz worth $293,450,000 at the end of the most recent reporting period.

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

Kraft Heinz Stock Performance

Shares of NASDAQ KHC 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 company has a market cap of $43.52 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 3.32 and a beta of 0.49. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. The business’s fifty day moving average is $34.14 and its two-hundred day moving average is $35.07. 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 posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 earnings per share. As a group, research analysts expect 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 issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Evercore ISI reduced their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Piper Sandler dropped their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Bank of America reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research report 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $37.31.

Insider Buying and Selling at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the 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 sale, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Company Profile

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.