GW&K Investment Management LLC increased its position in shares of Kraft Heinz Co. (NASDAQ:KHC) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 308,423 shares of the company’s stock after buying an additional 1,698 shares during the period. GW&K Investment Management LLC’s holdings in Kraft Heinz were worth $27,289,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. State Street Corp raised its stake in Kraft Heinz by 3.4% in the first quarter. State Street Corp now owns 23,843,318 shares of the company’s stock valued at $1,873,118,000 after buying an additional 775,834 shares during the period. Bank of Montreal Can bought a new stake in Kraft Heinz during the second quarter valued at approximately $40,363,000. Marsico Capital Management LLC bought a new stake in Kraft Heinz during the first quarter valued at approximately $34,627,000. British Airways Pensions Investment Management Ltd bought a new stake in Kraft Heinz during the second quarter valued at approximately $25,161,000. Finally, Locust Wood Capital Advisers LLC bought a new stake in Kraft Heinz during the second quarter valued at approximately $21,750,000. Institutional investors and hedge funds own 61.30% of the company’s stock.
Kraft Heinz Co. (NASDAQ:KHC) traded up 0.36% during mid-day trading on Wednesday, reaching $89.55. 1,628,667 shares of the company were exchanged. The company has a market capitalization of $109.04 billion, a price-to-earnings ratio of 65.65 and a beta of 0.47. Kraft Heinz Co. has a 1-year low of $68.18 and a 1-year high of $90.54. The company has a 50 day moving average of $88.87 and a 200-day moving average of $84.59.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.14. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $4.70 billion. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. Kraft Heinz’s quarterly revenue was up 159.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. On average, equities research analysts forecast that Kraft Heinz Co. will post $3.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.68%. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, August 24th. Kraft Heinz’s payout ratio is presently 181.82%.
Several brokerages recently weighed in on KHC. Sanford C. Bernstein set a $110.00 target price on shares of Kraft Heinz and gave the stock a “buy” rating in a report on Monday, September 12th. Susquehanna dropped their target price on shares of Kraft Heinz from $118.00 to $114.00 and set a “positive” rating for the company in a report on Friday, August 26th. Morgan Stanley dropped their target price on shares of Kraft Heinz from $100.00 to $97.00 and set an “overweight” rating for the company in a report on Wednesday, August 31st. Deutsche Bank AG raised shares of Kraft Heinz from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $103.00 in a report on Friday, August 5th. Finally, Vetr raised shares of Kraft Heinz from a “buy” rating to a “strong-buy” rating and set a $98.22 price objective for the company in a report on Monday, September 12th. Two investment analysts have rated the stock with a sell rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $99.17.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $87.05, for a total value of $244,468,695.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 26.92% of the stock is currently owned by company insiders.
Kraft Heinz Company Profile
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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