Quadrant Capital Group LLC boosted its stake in Kraft Heinz Co. (NASDAQ:KHC) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,637 shares of the company’s stock after buying an additional 94 shares during the period. Quadrant Capital Group LLC’s holdings in Kraft Heinz were worth $135,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Haverford Financial Services Inc. increased its stake in Kraft Heinz by 30.6% in the first quarter. Haverford Financial Services Inc. now owns 4,340 shares of the company’s stock valued at $341,000 after buying an additional 1,017 shares during the last quarter. Howard Hughes Medical Institute bought a new stake in Kraft Heinz during the first quarter valued at $230,000. Bristlecone Advisors LLC acquired a new stake in shares of Kraft Heinz during the first quarter worth $202,000. Stearns Financial Services Group increased its stake in shares of Kraft Heinz by 0.3% in the first quarter. Stearns Financial Services Group now owns 5,534 shares of the company’s stock worth $435,000 after buying an additional 15 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Kraft Heinz by 0.5% in the first quarter. BlackRock Fund Advisors now owns 6,664,263 shares of the company’s stock worth $523,545,000 after buying an additional 33,087 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 0.10% during trading on Friday, hitting $87.40. The stock had a trading volume of 1,723,648 shares. The company has a market capitalization of $106.42 billion, a price-to-earnings ratio of 64.08 and a beta of 0.47. Kraft Heinz Co. has a 1-year low of $68.18 and a 1-year high of $90.54. The firm has a 50 day moving average of $88.71 and a 200 day moving average of $85.00.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.14. The firm 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 company’s revenue was up 159.7% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. Analysts expect that Kraft Heinz Co. will post $3.24 EPS for the current fiscal year.
The company 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.75%. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date is Wednesday, August 24th. Kraft Heinz’s dividend payout ratio (DPR) is presently 181.82%.
A number of equities research analysts have weighed in on the stock. Vetr raised shares of Kraft Heinz from a “buy” rating to a “strong-buy” rating and set a $98.22 price target for the company in a report on Thursday. JPMorgan Chase & Co. reissued a “focus list” rating on shares of Kraft Heinz in a report on Tuesday. Argus upped their price target on shares of Kraft Heinz from $91.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, September 28th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target on shares of Kraft Heinz in a report on Tuesday, September 27th. Finally, Sanford C. Bernstein set a $110.00 price target on shares of Kraft Heinz and gave the company a “buy” rating in a report on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Kraft Heinz currently has an average 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 Kraft Heinz stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total value of $244,468,695.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 26.92% of the stock is owned by corporate insiders.
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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