Headinvest LLC cut its position in Kraft Heinz Co. (NASDAQ:KHC) by 4.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,830 shares of the company’s stock after selling 200 shares during the period. Headinvest LLC’s holdings in Kraft Heinz were worth $427,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Balentine LLC raised its stake in Kraft Heinz by 43.3% in the first quarter. Balentine LLC now owns 1,605 shares of the company’s stock worth $126,000 after buying an additional 485 shares during the period. Iowa State Bank bought a new stake in Kraft Heinz during the second quarter worth $129,000. Vigilant Capital Management LLC raised its stake in Kraft Heinz by 7.1% in the second quarter. Vigilant Capital Management LLC now owns 1,756 shares of the company’s stock worth $155,000 after buying an additional 116 shares during the period. Sadoff Investment Management LLC bought a new stake in Kraft Heinz during the second quarter worth $201,000. Finally, Bristlecone Advisors LLC bought a new stake in Kraft Heinz during the first quarter worth $202,000. Hedge funds and other institutional investors own 61.30% of the company’s stock.
Kraft Heinz Co. (NASDAQ:KHC) traded up 0.79% during mid-day trading on Tuesday, hitting $89.23. The company had a trading volume of 1,530,325 shares. Kraft Heinz Co. has a 1-year low of $68.18 and a 1-year high of $90.54. The firm has a market capitalization of $108.65 billion, a PE ratio of 65.42 and a beta of 0.47. The company has a 50 day moving average of $88.88 and a 200 day moving average of $84.56.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.14. The company earned $6.79 billion during the quarter, compared to analyst estimates of $4.70 billion. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The firm’s revenue was up 159.7% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. Analysts predict that Kraft Heinz Co. will post $3.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Wednesday, August 24th. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s payout ratio is 181.82%.
A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 target price on shares of Kraft Heinz in a research note on Tuesday. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $100.00 target price on shares of Kraft Heinz in a research note on Saturday, August 13th. RBC Capital Markets reaffirmed an “outperform” rating and set a $96.00 price target (up previously from $92.00) on shares of Kraft Heinz in a research report on Friday, August 5th. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Monday, August 8th. Finally, Morgan Stanley set a $97.00 price target on Kraft Heinz and gave the company a “buy” rating in a research report on Friday, August 5th. Two research analysts have rated the stock with a sell rating and fourteen have assigned a buy rating to the company’s stock. Kraft Heinz presently has a consensus rating of “Buy” and a consensus target price of $98.79.
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 that occurred on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total transaction of $244,468,695.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 26.92% of the company’s stock.
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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