III Capital Management Buys 45,000 Shares of Kraft Heinz Company $KHC

III Capital Management grew its stake in Kraft Heinz Company (NASDAQ:KHC) by 141.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,830 shares of the company’s stock after acquiring an additional 45,000 shares during the quarter. Kraft Heinz accounts for 0.4% of III Capital Management’s portfolio, making the stock its 27th biggest holding. III Capital Management’s holdings in Kraft Heinz were worth $1,984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of KHC. STF Management LP grew its position in Kraft Heinz by 2.1% during the 2nd quarter. STF Management LP now owns 18,475 shares of the company’s stock valued at $477,000 after purchasing an additional 374 shares during the last quarter. Bill Few Associates Inc. increased its position in shares of Kraft Heinz by 0.6% during the second quarter. Bill Few Associates Inc. now owns 88,026 shares of the company’s stock valued at $2,273,000 after acquiring an additional 516 shares in the last quarter. Sittner & Nelson LLC raised its holdings in Kraft Heinz by 11.0% in the 2nd quarter. Sittner & Nelson LLC now owns 5,550 shares of the company’s stock worth $143,000 after acquiring an additional 550 shares during the last quarter. Pinney & Scofield Inc. lifted its position in Kraft Heinz by 48.2% in the 2nd quarter. Pinney & Scofield Inc. now owns 1,851 shares of the company’s stock valued at $48,000 after acquiring an additional 602 shares in the last quarter. Finally, Keynote Financial Services LLC boosted its stake in Kraft Heinz by 1.6% during the 2nd quarter. Keynote Financial Services LLC now owns 40,475 shares of the company’s stock valued at $1,045,000 after purchasing an additional 620 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KHC. Evercore ISI lowered their price target on Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating on the stock in a report on Thursday, October 30th. HSBC lowered their target price on shares of Kraft Heinz from $29.00 to $27.00 in a research note on Thursday, October 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Kraft Heinz in a report on Wednesday, October 8th. Wells Fargo & Company dropped their target price on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Finally, DZ Bank upgraded shares of Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Kraft Heinz presently has an average rating of “Reduce” and an average target price of $26.58.

Kraft Heinz Trading Up 0.2%

Shares of KHC stock opened at $24.45 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.73. The company has a market cap of $28.94 billion, a price-to-earnings ratio of -6.55 and a beta of 0.09. Kraft Heinz Company has a 1 year low of $23.70 and a 1 year high of $33.35. The firm has a fifty day moving average price of $24.94 and a 200-day moving average price of $26.22.

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

Kraft Heinz Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.60 annualized dividend and a yield of 6.5%. Kraft Heinz’s 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.