Standard Life Investments LTD cut its position in Kraft Heinz Co. (NASDAQ:KHC) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,048,890 shares of the company’s stock after selling 9,562 shares during the period. Kraft Heinz accounts for 2.4% of Standard Life Investments LTD’s holdings, making the stock its 3rd largest position. Standard Life Investments LTD’s holdings in Kraft Heinz were worth $535,175,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of 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 in the last quarter. Iowa State Bank purchased a new position in shares of Kraft Heinz during the second quarter worth approximately $129,000. Vigilant Capital Management LLC boosted its position 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. Sadoff Investment Management LLC purchased a new position in shares of Kraft Heinz during the second quarter worth approximately $201,000. Finally, Bristlecone Advisors LLC purchased a new position in shares of Kraft Heinz during the first quarter worth approximately $202,000. 61.30% of the stock is owned by institutional investors and hedge funds.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded down 0.48% on Monday, hitting $89.08. The company’s stock had a trading volume of 1,857,873 shares. The company has a 50 day moving average of $88.85 and a 200 day moving average of $84.71. Kraft Heinz Co. has a 1-year low of $68.18 and a 1-year high of $90.54. The firm has a market cap of $108.47 billion, a PE ratio of 65.31 and a beta of 0.47.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.14. The firm earned $6.79 billion during 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%. Kraft Heinz’s revenue for the quarter was up 159.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 earnings per share. Equities analysts forecast that Kraft Heinz Co. will post $3.24 EPS for the current year.
The firm also recently announced 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 is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Wednesday, August 24th. Kraft Heinz’s dividend payout ratio (DPR) is currently 181.82%.
KHC has been the subject of a number of research analyst reports. Vetr cut Kraft Heinz from a “strong-buy” rating to a “buy” rating and set a $98.22 target price for the company. in a report on Monday, September 19th. Susquehanna decreased their price objective on Kraft Heinz from $118.00 to $114.00 and set a “positive” rating for the company in a research note on Friday, August 26th. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating and issued a $98.00 price objective (up previously from $93.00) on shares of Kraft Heinz in a research note on Friday, July 15th. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $100.00 price objective (up previously from $98.00) on shares of Kraft Heinz in a research note on Tuesday, August 16th. Two analysts have rated the stock with a sell rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $99.17.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.92% of the stock is owned by corporate insiders.
About Kraft Heinz
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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