Guggenheim Capital LLC Acquires 68,045 Shares of Kraft Heinz Company $KHC

Guggenheim Capital LLC raised its holdings in Kraft Heinz Company (NASDAQ:KHC) by 13.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 560,665 shares of the company’s stock after buying an additional 68,045 shares during the quarter. Guggenheim Capital LLC’s holdings in Kraft Heinz were worth $14,476,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KHC. STF Management LP boosted its holdings in Kraft Heinz by 2.1% in the second quarter. STF Management LP now owns 18,475 shares of the company’s stock valued at $477,000 after acquiring an additional 374 shares in the last quarter. Rathbones Group PLC raised its holdings in Kraft Heinz by 0.8% in the 1st quarter. Rathbones Group PLC now owns 56,798 shares of the company’s stock worth $1,728,000 after purchasing an additional 442 shares in the last quarter. Bill Few Associates Inc. lifted its position in shares of Kraft Heinz by 0.6% in the 2nd quarter. Bill Few Associates Inc. now owns 88,026 shares of the company’s stock worth $2,273,000 after purchasing an additional 516 shares during the period. Sittner & Nelson LLC boosted its stake in shares of Kraft Heinz by 11.0% during the 2nd quarter. Sittner & Nelson LLC now owns 5,550 shares of the company’s stock valued at $143,000 after purchasing an additional 550 shares in the last quarter. Finally, Pinney & Scofield Inc. boosted its stake in shares of Kraft Heinz by 48.2% during the 2nd quarter. Pinney & Scofield Inc. now owns 1,851 shares of the company’s stock valued at $48,000 after purchasing an additional 602 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KHC. BNP Paribas Exane decreased their price target on shares of Kraft Heinz from $29.00 to $26.00 in a research note on Thursday, October 30th. Mizuho reduced their target price on Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, October 28th. Barclays lowered their target price on Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. Wells Fargo & Company dropped their price target on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Finally, UBS Group decreased their price objective on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $26.58.

Kraft Heinz Stock Performance

Shares of KHC opened at $24.59 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The stock has a market cap of $29.11 billion, a P/E ratio of -6.59 and a beta of 0.09. The business’s 50 day moving average price is $25.14 and its 200-day moving average price is $26.32. Kraft Heinz Company has a 52 week low of $23.70 and a 52 week high of $33.35.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The business had revenue of $6.39 billion during the quarter. Equities research analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a yield of 6.5%. Kraft Heinz’s payout ratio is presently -42.90%.

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.