Choreo LLC Has $1.50 Million Holdings in Kraft Heinz Company $KHC

Choreo LLC lifted its position in Kraft Heinz Company (NASDAQ:KHC) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,032 shares of the company’s stock after buying an additional 5,121 shares during the quarter. Choreo LLC’s holdings in Kraft Heinz were worth $1,498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in shares of Kraft Heinz by 1.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,445,552 shares of the company’s stock valued at $37,324,000 after acquiring an additional 13,688 shares during the period. Inceptionr LLC raised its holdings in shares of Kraft Heinz by 82.8% in the 2nd quarter. Inceptionr LLC now owns 32,251 shares of the company’s stock valued at $833,000 after purchasing an additional 14,609 shares during the period. J.W. Cole Advisors Inc. lifted its stake in Kraft Heinz by 9.3% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 86,713 shares of the company’s stock valued at $2,239,000 after purchasing an additional 7,357 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Kraft Heinz by 37.3% during the second quarter. Advisors Asset Management Inc. now owns 288,031 shares of the company’s stock worth $7,437,000 after purchasing an additional 78,316 shares during the period. Finally, XTX Topco Ltd bought a new position in Kraft Heinz during the second quarter worth about $606,000. 78.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KHC shares. Sanford C. Bernstein cut their price objective on Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating for the company in a research report on Tuesday, October 28th. TD Cowen dropped their price target on Kraft Heinz from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. The Goldman Sachs Group cut their price target on Kraft Heinz from $30.00 to $27.00 in a report on Thursday, October 30th. BNP Paribas Exane decreased their price objective on shares of Kraft Heinz from $29.00 to $26.00 in a report on Thursday, October 30th. Finally, Morgan Stanley dropped their price objective on shares of Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $26.58.

Kraft Heinz Trading Down 1.0%

Shares of Kraft Heinz stock opened at $25.34 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The firm has a 50-day moving average of $25.25 and a 200-day moving average of $26.39. Kraft Heinz Company has a 52-week low of $23.70 and a 52-week high of $33.35. The stock has a market cap of $29.99 billion, a PE ratio of -6.79, a PEG ratio of 2.88 and a beta of 0.16.

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

Kraft Heinz Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Friday, November 28th. Kraft Heinz’s dividend payout ratio (DPR) is -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.