SignalPoint Asset Management LLC acquired a new position in Kraft Heinz Co. (NASDAQ:KHC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,553 shares of the company’s stock, valued at approximately $226,000.
Other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in shares of Kraft Heinz by 22.6% in the first quarter. Envestnet Asset Management Inc. now owns 353,441 shares of the company’s stock valued at $27,766,000 after buying an additional 65,072 shares during the last quarter. Natixis increased its position in shares of Kraft Heinz by 214.4% in the first quarter. Natixis now owns 352,559 shares of the company’s stock valued at $27,696,000 after buying an additional 240,411 shares during the last quarter. GW&K Investment Management LLC increased its position in shares of Kraft Heinz by 0.5% in the second quarter. GW&K Investment Management LLC now owns 308,403 shares of the company’s stock valued at $27,287,000 after buying an additional 1,678 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Kraft Heinz by 4.0% in the second quarter. Nisa Investment Advisors LLC now owns 192,380 shares of the company’s stock valued at $17,022,000 after buying an additional 7,340 shares during the last quarter. Finally, British Airways Pensions Investment Management Ltd bought a new position in shares of Kraft Heinz during the second quarter valued at approximately $25,161,000. Institutional investors and hedge funds own 61.30% of the company’s stock.
Kraft Heinz Co. (NASDAQ:KHC) traded down 0.73% on Wednesday, reaching $87.38. The company had a trading volume of 1,910,963 shares. The firm has a market capitalization of $106.40 billion, a price-to-earnings ratio of 64.06 and a beta of 0.47. Kraft Heinz Co. has a one year low of $68.18 and a one year high of $90.54. The company’s 50 day moving average is $88.81 and its 200-day moving average is $84.96.
Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, August 4th. The company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.14. The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The firm’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 earnings per share. On average, equities research analysts expect 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. Investors of record on Friday, August 26th will be paid a $0.60 dividend. 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 a boost from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s dividend payout ratio is currently 181.82%.
Several brokerages have commented on KHC. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $100.00 target price on shares of Kraft Heinz in a report on Saturday, August 13th. Stifel Nicolaus lifted their target price on Kraft Heinz from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 5th. RBC Capital Markets reaffirmed an “outperform” rating and set a $96.00 target price (up from $92.00) on shares of Kraft Heinz in a report on Friday, August 5th. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “buy” rating and set a $99.00 target price on the stock in a report on Monday, August 8th. Finally, Morgan Stanley set a $97.00 target price on Kraft Heinz and gave the stock a “buy” rating in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Kraft Heinz has an average rating of “Buy” and an average target price of $99.17.
In other 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 legal filing with the SEC, which is available through the SEC website. 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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