LMR Partners LLP increased its stake in Kraft Heinz Co. (NASDAQ:KHC) by 3,207.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,525 shares of the company’s stock after buying an additional 120,760 shares during the period. Kraft Heinz accounts for approximately 1.7% of LMR Partners LLP’s holdings, making the stock its 7th largest position. LMR Partners LLP’s holdings in Kraft Heinz were worth $11,018,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Glenmede Trust Co. NA increased its stake in shares of Kraft Heinz by 8.5% in the first quarter. Glenmede Trust Co. NA now owns 43,921 shares of the company’s stock valued at $3,450,000 after buying an additional 3,448 shares during the last quarter. Virginia Retirement System acquired a new stake in shares of Kraft Heinz during the first quarter valued at approximately $773,000. Three Peaks Capital Management LLC increased its stake in shares of Kraft Heinz by 259.8% in the first quarter. Three Peaks Capital Management LLC now owns 204,957 shares of the company’s stock valued at $16,101,000 after buying an additional 147,987 shares during the last quarter. Middleton & Co Inc MA increased its stake in shares of Kraft Heinz by 1.3% in the first quarter. Middleton & Co Inc MA now owns 30,043 shares of the company’s stock valued at $2,361,000 after buying an additional 397 shares during the last quarter. Finally, Exane Derivatives increased its stake in shares of Kraft Heinz by 32.7% in the first quarter. Exane Derivatives now owns 9,058 shares of the company’s stock valued at $712,000 after buying an additional 2,232 shares during the last quarter. Institutional investors and hedge funds own 61.30% of the company’s stock.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded down 1.43% during midday trading on Tuesday, hitting $87.81. The stock had a trading volume of 1,336,781 shares. The company has a market cap of $106.92 billion, a price-to-earnings ratio of 64.38 and a beta of 0.47. The stock’s 50-day moving average price is $88.84 and its 200 day moving average price is $84.89. Kraft Heinz Co. has a 52 week low of $68.18 and a 52 week high of $90.54.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.14. The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The business’s revenue was up 159.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. On average, equities analysts forecast 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. Stockholders 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 dividend yield of 2.69%. The ex-dividend date of this dividend is Wednesday, August 24th. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s dividend payout ratio is 181.82%.
KHC has been the topic of several recent research reports. Morgan Stanley dropped their price target on Kraft Heinz from $100.00 to $97.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 31st. JPMorgan Chase & Co. reaffirmed a “focus list” rating on shares of Kraft Heinz in a research report on Tuesday. Vetr downgraded Kraft Heinz from a “hold” rating to a “sell” rating and set a $82.91 target price on the stock. in a research report on Wednesday, June 29th. Stifel Nicolaus lifted their target price on Kraft Heinz from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Zacks Investment Research downgraded Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Two investment analysts have rated the stock with a sell rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company presently 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 company’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 is available at this link. 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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