Chase Investment Counsel Corp held its position in shares of Kraft Heinz Co. (NASDAQ:KHC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,265 shares of the company’s stock at the end of the second quarter. Chase Investment Counsel Corp’s holdings in Kraft Heinz were worth $377,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. 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 worth $126,000 after buying an additional 485 shares during the period. Iowa State Bank purchased a new position in Kraft Heinz during the second quarter worth approximately $129,000. 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 worth $155,000 after buying an additional 116 shares during the period. Sadoff Investment Management LLC purchased a new position in Kraft Heinz during the second quarter worth approximately $201,000. Finally, Bristlecone Advisors LLC purchased a new position in Kraft Heinz during the first quarter worth approximately $202,000. Hedge funds and other institutional investors own 61.30% of the company’s stock.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded up 0.36% on Wednesday, hitting $89.55. 1,628,667 shares of the company traded hands. The stock has a market capitalization of $109.04 billion, a price-to-earnings ratio of 65.65 and a beta of 0.47. The firm’s 50 day moving average price is $88.88 and its 200-day moving average price is $84.56. Kraft Heinz Co. has a 1-year low of $68.18 and a 1-year high of $90.54.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data 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. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the company earned $0.92 earnings per share. The firm’s revenue for the quarter was up 159.7% compared to the same quarter last year. On average, equities research analysts expect that Kraft Heinz Co. will post $3.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, August 26th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, August 24th. This represents a $2.40 dividend on an annualized basis and a yield of 2.68%. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s dividend payout ratio (DPR) is presently 181.82%.
KHC has been the subject of a number of analyst reports. Vetr lowered shares of Kraft Heinz from a “strong-buy” rating to a “buy” rating and set a $98.22 price objective for the company. in a research report on Monday, September 19th. Susquehanna lowered their target price on shares of Kraft Heinz from $118.00 to $114.00 and set a “positive” rating on the stock in a research note on Friday, August 26th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and issued a $98.00 target price (up from $93.00) on shares of Kraft Heinz in a research note on Friday, July 15th. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $100.00 target price (up from $98.00) on shares of Kraft Heinz in a research note on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $99.17.
In related news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available at this hyperlink. Corporate 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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