Levin Capital Strategies L.P. Acquires New Holdings in Kraft Heinz Company $KHC

Levin Capital Strategies L.P. acquired a new stake in Kraft Heinz Company (NASDAQ:KHC) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 110,457 shares of the company’s stock, valued at approximately $2,852,000.

Other institutional investors have also made changes to their positions in the company. Rossby Financial LCC bought a new position in shares of Kraft Heinz in the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC bought a new position in shares of Kraft Heinz in the first quarter worth about $33,000. Investment Management Corp VA ADV increased its stake in shares of Kraft Heinz by 141.7% in the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock worth $35,000 after purchasing an additional 669 shares during the period. Mid American Wealth Advisory Group Inc. bought a new position in shares of Kraft Heinz in the second quarter worth about $39,000. Finally, Banque Transatlantique SA bought a new position in shares of Kraft Heinz in the first quarter worth about $40,000. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KHC. DZ Bank upgraded Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Hsbc Global Res upgraded Kraft Heinz to a “hold” rating in a research note on Friday, August 1st. HSBC dropped their price objective on Kraft Heinz from $29.00 to $27.00 in a research note on Thursday, October 30th. Barclays dropped their price objective on Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Finally, Mizuho dropped their price objective on Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $26.58.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $24.33 on Tuesday. Kraft Heinz Company has a 1-year low of $23.90 and a 1-year high of $34.08. The firm has a market capitalization of $28.80 billion, a PE ratio of -6.52, a PEG ratio of 2.88 and a beta of 0.16. The business’s 50 day moving average is $26.00 and its 200-day moving average is $26.91. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46.

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

Kraft Heinz Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Friday, November 28th. Kraft Heinz’s dividend payout ratio is currently -42.90%.

Kraft Heinz 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.