Whittier Trust Co. of Nevada Inc. raised its stake in shares of Kraft Heinz Co. (NASDAQ:KHC) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,428 shares of the company’s stock after buying an additional 585 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Kraft Heinz were worth $2,250,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake 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 stake 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 stake 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 stake 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 acquired a new stake in shares of Kraft Heinz during the second quarter valued at $25,161,000. Hedge funds and other institutional investors own 61.30% of the company’s stock.
Kraft Heinz Co. (NASDAQ:KHC) traded down 0.687% during midday trading on Wednesday, reaching $87.415. The company had a trading volume of 1,436,595 shares. The stock has a market cap of $106.44 billion, a P/E ratio of 64.087 and a beta of 0.47. The firm has a 50-day moving average of $88.81 and a 200-day moving average of $84.96. Kraft Heinz Co. has a 12 month low of $68.18 and a 12 month high of $90.54.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.14. The firm 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 business’s revenue was up 159.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. On average, equities analysts expect that Kraft Heinz Co. will post $3.24 EPS for the current fiscal 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 represents a $2.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Wednesday, August 24th. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s payout ratio is 181.82%.
KHC has been the subject of several recent analyst reports. Sanford C. Bernstein set a $110.00 target price on Kraft Heinz and gave the company a “buy” rating in a research note on Monday, September 12th. Susquehanna decreased their target price 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. Morgan Stanley decreased their target price on Kraft Heinz from $100.00 to $97.00 and set an “overweight” rating for the company in a research note on Wednesday, August 31st. JPMorgan Chase & Co. reiterated a “focus list” rating on shares of Kraft Heinz in a research report on Tuesday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 price objective on shares of Kraft Heinz in a research report on Tuesday, September 27th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Kraft Heinz currently has a consensus 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 business’s stock in a transaction that occurred 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 26.92% of the company’s stock.
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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