Stoneridge Investment Partners LLC purchased a new stake in shares of Kraft Heinz Co. (NASDAQ:KHC) during the second quarter, Holdings Channel reports. The fund purchased 16,843 shares of the company’s stock, valued at approximately $1,490,000.
Several other large investors also recently made changes to their positions in the stock. 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 valued at $126,000 after buying an additional 485 shares during the period. Iowa State Bank bought a new position in Kraft Heinz during the second quarter valued at $129,000. Vigilant Capital Management LLC boosted 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 valued at $155,000 after buying an additional 116 shares during the period. Sadoff Investment Management LLC bought a new position in Kraft Heinz during the second quarter valued at $201,000. Finally, Bristlecone Advisors LLC bought a new position in Kraft Heinz during the first quarter valued at $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 1.30% during trading on Thursday, hitting $89.05. The company had a trading volume of 1,516,795 shares. The stock’s 50-day moving average price is $88.78 and its 200 day moving average price is $84.18. The company has a market capitalization of $108.43 billion, a P/E ratio of 65.29 and a beta of 0.47. Kraft Heinz Co. has a 52 week low of $68.18 and a 52 week high of $90.54.
Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.14. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $4.70 billion. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The firm’s quarterly revenue was up 159.7% on a year-over-year basis. During the same quarter last year, the company earned $0.92 EPS. On average, equities research analysts forecast that Kraft Heinz Co. will post $3.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be paid a $0.60 dividend. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $2.40 dividend on an annualized basis and a yield of 2.70%. Kraft Heinz’s payout ratio is presently 181.82%.
Several research analysts recently weighed in on KHC shares. Vetr cut shares of Kraft Heinz from a “strong-buy” rating to a “buy” rating and set a $98.22 price objective on the stock. in a research report on Monday. Susquehanna decreased their price objective on shares of Kraft Heinz from $118.00 to $114.00 and set a “positive” rating on the stock in a research report on Friday, August 26th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and issued a $98.00 target price (up previously from $93.00) on shares of Kraft Heinz in a research note on Friday, July 15th. Zacks Investment Research raised 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 previously 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 company. The stock currently has a consensus rating of “Buy” and an average price target of $98.79.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of Kraft Heinz stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total value of $244,468,695.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 26.92% of the stock is owned by company 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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