TD Asset Management Inc Raises Stock Position in Kraft Heinz Company (NASDAQ:KHC)

TD Asset Management Inc grew its position in Kraft Heinz Company (NASDAQ:KHC) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 429,603 shares of the company’s stock after buying an additional 2,842 shares during the period. TD Asset Management Inc’s holdings in Kraft Heinz were worth $13,073,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Rossby Financial LCC acquired a new stake in shares of Kraft Heinz during the first quarter valued at about $29,000. Wayfinding Financial LLC purchased a new stake in Kraft Heinz in the first quarter valued at approximately $33,000. Pinney & Scofield Inc. acquired a new position in Kraft Heinz during the fourth quarter worth $38,000. Abound Wealth Management boosted its position in shares of Kraft Heinz by 1,157.0% during the first quarter. Abound Wealth Management now owns 1,257 shares of the company’s stock worth $38,000 after buying an additional 1,157 shares during the period. Finally, Capital Analysts LLC grew its stake in shares of Kraft Heinz by 50.5% in the fourth quarter. Capital Analysts LLC now owns 1,507 shares of the company’s stock valued at $47,000 after buying an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Activity

In other news, Director Elio Leoni Sceti sold 25,000 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $27.91, for a total value of $697,750.00. Following the transaction, the director owned 40,000 shares of the company’s stock, valued at approximately $1,116,400. This trade represents a 38.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Cfra Research downgraded Kraft Heinz from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 16th. The Goldman Sachs Group raised shares of Kraft Heinz from a “sell” rating to a “neutral” rating and raised their target price for the company from $25.00 to $27.00 in a report on Wednesday, June 25th. Citigroup reiterated a “sell” rating and issued a $27.00 price target (down previously from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Wells Fargo & Company lifted their price objective on shares of Kraft Heinz from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Finally, UBS Group lowered their price objective on Kraft Heinz from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, July 17th. Three equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $30.29.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $28.49 on Thursday. The company has a 50-day simple moving average of $26.82 and a 200-day simple moving average of $28.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.81. The company has a market cap of $33.72 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 3.34 and a beta of 0.25. Kraft Heinz Company has a 12 month low of $25.44 and a 12 month high of $36.53.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.62%. Kraft Heinz’s dividend payout ratio is currently 73.06%.

About Kraft Heinz

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.