Grandfield & Dodd LLC cut its stake in Kraft Heinz Co. (NASDAQ:KHC) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,886 shares of the company’s stock after selling 500 shares during the period. Grandfield & Dodd LLC’s holdings in Kraft Heinz were worth $1,760,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of KHC. Glenmede Trust Co. NA raised its stake in shares of Kraft Heinz by 8.5% in the first quarter. Glenmede Trust Co. NA now owns 43,921 shares of the company’s stock valued at $3,450,000 after buying an additional 3,448 shares in the last quarter. Virginia Retirement System acquired a new position in shares of Kraft Heinz during the first quarter worth approximately $773,000. Three Peaks Capital Management LLC raised its position in shares of Kraft Heinz by 259.8% in the first quarter. Three Peaks Capital Management LLC now owns 204,957 shares of the company’s stock worth $16,101,000 after buying an additional 147,987 shares during the period. Middleton & Co Inc MA raised its position in shares of Kraft Heinz by 1.3% in the first quarter. Middleton & Co Inc MA now owns 30,043 shares of the company’s stock worth $2,361,000 after buying an additional 397 shares during the period. Finally, Exane Derivatives raised its position in shares of Kraft Heinz by 32.7% in the first quarter. Exane Derivatives now owns 9,058 shares of the company’s stock worth $712,000 after buying an additional 2,232 shares during the period. 61.30% of the stock is currently owned by hedge funds and other institutional investors.
Kraft Heinz Co. (NASDAQ:KHC) traded down 1.19% during trading on Tuesday, hitting $88.02. The company had a trading volume of 1,939,380 shares. The firm has a 50-day moving average of $88.84 and a 200 day moving average of $84.89. The company has a market capitalization of $107.18 billion, a price-to-earnings ratio of 64.53 and a beta of 0.47. Kraft Heinz Co. has a 12-month low of $68.18 and a 12-month high of $90.54.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.14. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The firm earned $6.79 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the company posted $0.92 EPS. The business’s revenue for the quarter was up 159.7% compared to the same quarter last year. On average, equities research analysts forecast that Kraft Heinz Co. will post $3.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be given a $0.60 dividend. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date is Wednesday, August 24th. This represents a $2.40 annualized dividend and a yield of 2.73%. Kraft Heinz’s payout ratio is presently 181.82%.
A number of brokerages have recently commented on KHC. Vetr raised Kraft Heinz from a “sell” rating to a “hold” rating and set a $87.68 price target on the stock in a report on Monday, July 4th. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Monday, August 8th. Goldman Sachs Group Inc. reissued a “conviction-buy” rating and set a $98.00 price target (up from $93.00) on shares of Kraft Heinz in a report on Friday, July 15th. Royal Bank Of Canada raised their price target on Kraft Heinz from $92.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Finally, Credit Suisse Group AG reissued an “outperform” rating and set a $100.00 price target (up from $98.00) on shares of Kraft Heinz in a report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $99.17.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of Kraft Heinz stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 26.92% of the stock is owned by company 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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