North Star Asset Management Inc. held its position in shares of Kraft Heinz Co. (NASDAQ:KHC) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,471 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in Kraft Heinz were worth $1,137,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in KHC. Balentine LLC boosted 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 last quarter. Iowa State Bank acquired a new stake in shares of Kraft Heinz during the second quarter worth about $129,000. Quadrant Capital Group LLC raised its stake in shares of Kraft Heinz by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 1,637 shares of the company’s stock worth $135,000 after buying an additional 94 shares during the period. Vigilant Capital Management LLC raised its stake in shares of 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. Finally, Sadoff Investment Management LLC acquired a new stake in shares of Kraft Heinz during the second quarter worth about $201,000. 61.30% of the stock is currently owned by hedge funds and other institutional investors.
Kraft Heinz Co. (NASDAQ:KHC) traded down 1.29% during midday trading on Tuesday, hitting $87.36. The stock had a trading volume of 1,273,283 shares. Kraft Heinz Co. has a 12-month low of $68.18 and a 12-month high of $90.54. The company has a market cap of $106.37 billion, a price-to-earnings ratio of 64.05 and a beta of 0.47. The company has a 50-day moving average price of $88.60 and a 200-day moving average price of $85.29.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.14. The business had revenue of $6.79 billion for 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 company’s revenue was up 159.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. Equities analysts anticipate that Kraft Heinz Co. will post $3.24 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Friday, August 26th were issued a dividend of $0.60 per share. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Wednesday, August 24th. Kraft Heinz’s dividend payout ratio (DPR) is presently 181.82%.
A number of research firms recently weighed in on KHC. Zacks Investment Research upgraded shares of Kraft Heinz from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Wednesday, June 29th. Morgan Stanley set a $97.00 target price on shares of Kraft Heinz and gave the stock a “buy” rating in a research note on Friday, August 5th. Vetr upgraded shares of Kraft Heinz from a “sell” rating to a “buy” rating and set a $93.36 target price on the stock in a research note on Monday, July 11th. Deutsche Bank AG upgraded 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 research note on Friday, August 5th. Finally, Susquehanna restated a “buy” rating and set a $98.00 target price on shares of Kraft Heinz in a research note on Sunday, July 17th. Two research 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 presently has a consensus rating of “Buy” and a consensus 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 can be accessed through 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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