Harvey Investment Co. LLC held its position in Kraft Heinz Co. (NASDAQ:KHC) during the second quarter, Holdings Channel reports. The firm owned 29,457 shares of the company’s stock at the end of the second quarter. Harvey Investment Co. LLC’s holdings in Kraft Heinz were worth $2,606,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KHC. Iowa State Bank purchased a new position in Kraft Heinz during the second quarter valued at $129,000. Balentine LLC raised its position in Kraft Heinz by 43.3% in the first quarter. Balentine LLC now owns 1,605 shares of the company’s stock valued at $126,000 after buying an additional 485 shares during the last quarter. Quadrant Capital Group LLC raised its position in Kraft Heinz by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 1,637 shares of the company’s stock valued at $135,000 after buying an additional 94 shares during the last quarter. Vigilant Capital Management LLC raised its position in Kraft Heinz by 7.1% in the second quarter. Vigilant Capital Management LLC now owns 1,756 shares of the company’s stock valued at $155,000 after buying an additional 116 shares during the last quarter. Finally, Sadoff Investment Management LLC purchased a new position in Kraft Heinz during the second quarter valued at $201,000. 61.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded up 0.01% during trading on Thursday, reaching $87.39. 803,751 shares of the company were exchanged. Kraft Heinz Co. has a one year low of $68.18 and a one year high of $90.54. The firm’s 50 day moving average price is $88.76 and its 200 day moving average price is $84.98. The company has a market capitalization of $106.41 billion, a PE ratio of 64.07 and a beta of 0.47.
Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.14. The business earned $6.79 billion during the quarter, compared to the consensus estimate of $4.70 billion. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The company’s revenue for the quarter was up 159.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. Equities research analysts forecast that Kraft Heinz Co. will post $3.24 earnings per share for the current fiscal 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 given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, August 24th. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s dividend payout ratio is currently 181.82%.
Several research firms recently weighed in on KHC. Zacks Investment Research lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $96.00 price target (up previously from $92.00) on shares of Kraft Heinz in a research note on Friday, August 5th. Stifel Nicolaus lifted their price target on shares of Kraft Heinz from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Vetr lowered shares of Kraft Heinz from a “hold” rating to a “sell” rating and set a $82.91 price target on the stock. in a research note on Wednesday, June 29th. Finally, Deutsche Bank AG raised shares of Kraft Heinz from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $103.00 in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, twelve have given a buy rating and two have given a strong buy rating to the company. Kraft Heinz currently has a consensus rating of “Buy” and an average price target of $99.17.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $87.05, for a total transaction of $244,468,695.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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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