Insight Capital Research & Management Inc. bought a new stake in shares of Kraft Heinz Co. (NASDAQ:KHC) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 39,744 shares of the company’s stock, valued at approximately $3,517,000. Kraft Heinz makes up 1.2% of Insight Capital Research & Management Inc.’s holdings, making the stock its 24th largest position.
A number of other institutional investors have also recently added to or reduced their stakes in KHC. State Street Corp increased its stake in Kraft Heinz by 3.4% in the first quarter. State Street Corp now owns 23,843,318 shares of the company’s stock worth $1,873,118,000 after buying an additional 775,834 shares during the last quarter. Bank of Montreal Can bought a new stake in Kraft Heinz during the second quarter worth $40,363,000. Marsico Capital Management LLC bought a new stake in Kraft Heinz during the first quarter worth $34,627,000. British Airways Pensions Investment Management Ltd bought a new stake in Kraft Heinz during the second quarter worth $25,161,000. Finally, Locust Wood Capital Advisers LLC bought a new stake in Kraft Heinz during the second quarter worth $21,750,000. 61.30% of the stock is currently owned by hedge funds and other institutional investors.
Kraft Heinz Co. (NASDAQ:KHC) traded down 0.48% during mid-day trading on Monday, hitting $89.08. 1,857,873 shares of the stock traded hands. Kraft Heinz Co. has a 1-year low of $68.18 and a 1-year high of $90.54. The firm has a market capitalization of $108.47 billion, a P/E ratio of 65.31 and a beta of 0.47. The company has a 50-day moving average of $88.83 and a 200 day moving average of $84.86.
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. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the business earned $0.92 earnings per share. The business’s quarterly revenue was up 159.7% on a year-over-year basis. On average, equities research analysts anticipate that Kraft Heinz Co. will post $3.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be given a dividend of $0.60 per share. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Wednesday, August 24th. Kraft Heinz’s dividend payout ratio (DPR) is presently 181.82%.
KHC has been the topic of several recent research reports. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $100.00 target price on shares of Kraft Heinz in a research report on Saturday, August 13th. Stifel Nicolaus lifted their target price on shares of Kraft Heinz from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. RBC Capital Markets reiterated an “outperform” rating and set a $96.00 target price (up from $92.00) on shares of Kraft Heinz in a research report on Friday, August 5th. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Monday, August 8th. Finally, Morgan Stanley set a $97.00 target price on shares of Kraft Heinz and gave the stock a “buy” rating in a research report on Friday, August 5th. Two research analysts have rated the stock with a sell rating and fourteen have issued a buy rating to the stock. Kraft Heinz presently has an average rating of “Buy” and a consensus target price 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 that occurred on Tuesday, September 20th. The shares were 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 can be accessed through this hyperlink. Company insiders own 26.92% of the company’s stock.
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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