Cherry Creek Investment Advisors Inc. Acquires Shares of 7,905 The Kraft Heinz Company (NASDAQ:KHC)

Cherry Creek Investment Advisors Inc. acquired a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,905 shares of the company’s stock, valued at approximately $322,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KHC. Bbva USA purchased a new stake in shares of The Kraft Heinz in the second quarter worth about $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of The Kraft Heinz in the first quarter worth about $30,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of The Kraft Heinz in the first quarter worth about $32,000. BDO Wealth Advisors LLC lifted its holdings in shares of The Kraft Heinz by 64.1% in the first quarter. BDO Wealth Advisors LLC now owns 855 shares of the company’s stock worth $34,000 after buying an additional 334 shares in the last quarter. Finally, PNC Managed Account Solutions Inc. purchased a new stake in shares of The Kraft Heinz in the second quarter worth about $36,000. 61.25% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Marcos Eloi Lima sold 41,929 shares of the stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $36.44, for a total transaction of $1,527,892.76. Following the completion of the sale, the insider now owns 191,620 shares of the company’s stock, valued at $6,982,632.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Credit Suisse Group lowered their price target on shares of The Kraft Heinz from $38.00 to $33.00 and set an “underperform” rating on the stock in a report on Thursday, August 5th. Morgan Stanley initiated coverage on shares of The Kraft Heinz in a research report on Tuesday, September 21st. They issued a “hold” rating and a $37.00 price objective on the stock. Piper Sandler decreased their price objective on shares of The Kraft Heinz from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, August 20th. Finally, Zacks Investment Research cut shares of The Kraft Heinz from a “hold” rating to a “sell” rating and set a $43.00 price objective on the stock. in a research report on Wednesday, June 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.90.

NASDAQ KHC traded up $0.30 on Thursday, reaching $37.10. 19,995 shares of the company’s stock traded hands, compared to its average volume of 5,894,832. The Kraft Heinz Company has a 12 month low of $29.21 and a 12 month high of $44.95. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 0.87. The stock has a 50-day simple moving average of $36.71 and a 200 day simple moving average of $39.68. The stock has a market cap of $45.39 billion, a PE ratio of 20.79, a P/E/G ratio of 2.70 and a beta of 1.12.

The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, August 4th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.55 billion. The Kraft Heinz had a net margin of 8.20% and a return on equity of 7.34%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.80 earnings per share. As a group, analysts anticipate that The Kraft Heinz Company will post 2.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 24th. Stockholders of record on Wednesday, September 1st were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Tuesday, August 31st. The Kraft Heinz’s dividend payout ratio (DPR) is presently 55.56%.

The Kraft Heinz Profile

The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015 and is headquartered in Pittsburgh, PA.

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Institutional Ownership by Quarter for The Kraft Heinz (NASDAQ:KHC)

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