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

III Capital Management grew its position in shares of Kraft Heinz Company (NASDAQ:KHC) by 141.4% in the second quarter, Holdings Channel reports. The fund owned 76,830 shares of the company’s stock after buying an additional 45,000 shares during the quarter. Kraft Heinz makes up about 0.4% of III Capital Management’s portfolio, making the stock its 27th biggest position. III Capital Management’s holdings in Kraft Heinz were worth $1,984,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Banque Transatlantique SA bought a new position in Kraft Heinz during the first quarter valued at $40,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Kraft Heinz in the 2nd quarter valued at about $39,000. Hilltop National Bank purchased a new position in Kraft Heinz in the second quarter worth about $41,000. MV Capital Management Inc. increased its stake in Kraft Heinz by 300.7% during the second quarter. MV Capital Management Inc. now owns 1,735 shares of the company’s stock worth $45,000 after acquiring an additional 1,302 shares during the last quarter. Finally, Pinney & Scofield Inc. raised its position in Kraft Heinz by 48.2% during the second quarter. Pinney & Scofield Inc. now owns 1,851 shares of the company’s stock valued at $48,000 after purchasing an additional 602 shares during the period. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC opened at $24.45 on Friday. The firm’s 50 day simple moving average is $24.94 and its 200-day simple moving average is $26.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.13. Kraft Heinz Company has a one year low of $23.70 and a one year high of $33.35. The firm has a market cap of $28.94 billion, a PE ratio of -6.55 and a beta of 0.09.

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. 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 EPS for the current year.

Kraft Heinz Cuts Dividend

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

Analyst Ratings Changes

KHC has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Sanford C. Bernstein reduced their target price on shares of Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Kraft Heinz from $27.00 to $26.00 in a report on Thursday, October 30th. HSBC cut their price target on shares of Kraft Heinz from $29.00 to $27.00 in a report on Thursday, October 30th. Finally, Stifel Nicolaus dropped their target price on Kraft Heinz from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $26.58.

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.