Baker Ellis Asset Management LLC held its position in Kraft Heinz Co. (NASDAQ:KHC) during the second quarter, Holdings Channel reports. The firm owned 3,201 shares of the company’s stock at the end of the second quarter. Baker Ellis Asset Management LLC’s holdings in Kraft Heinz were worth $283,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in KHC. Envestnet Asset Management Inc. boosted its position 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 worth $27,766,000 after buying an additional 65,072 shares during the period. Natixis boosted its position in shares of Kraft Heinz by 214.4% in the first quarter. Natixis now owns 352,559 shares of the company’s stock worth $27,696,000 after buying an additional 240,411 shares during the period. GW&K Investment Management LLC boosted its position 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 worth $27,287,000 after buying an additional 1,678 shares during the period. Nisa Investment Advisors LLC boosted its position 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 worth $17,022,000 after buying an additional 7,340 shares during the period. Finally, Redwood Investments LLC bought a new position in shares of Kraft Heinz during the second quarter worth approximately $14,719,000. Institutional investors and hedge funds own 61.30% of the company’s stock.
Kraft Heinz Co. (NASDAQ:KHC) traded down 0.10% on Friday, hitting $87.40. The stock had a trading volume of 1,723,648 shares. The firm’s 50-day moving average is $88.71 and its 200-day moving average is $85.00. Kraft Heinz Co. has a 52-week low of $68.18 and a 52-week high of $90.54. The company has a market cap of $106.42 billion, a P/E ratio of 64.08 and a beta of 0.47.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.14. The company earned $6.79 billion during the quarter, compared to analyst estimates of $4.70 billion. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The firm’s revenue for the quarter was up 159.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 earnings per share. Equities research analysts anticipate that Kraft Heinz Co. will post $3.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, August 26th will be given a dividend of $0.60 per share. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, August 24th. Kraft Heinz’s dividend payout ratio (DPR) is currently 181.82%.
A number of equities analysts recently issued reports on the company. Morgan Stanley dropped their price objective on Kraft Heinz from $100.00 to $97.00 and set an “overweight” rating for the company in a report on Wednesday, August 31st. JPMorgan Chase & Co. restated a “focus list” rating on shares of Kraft Heinz in a report on Tuesday. Vetr upgraded Kraft Heinz from a “buy” rating to a “strong-buy” rating and set a $98.22 price objective for the company in a report on Thursday. Stifel Nicolaus boosted their price objective on Kraft Heinz from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Zacks Investment Research cut Kraft Heinz from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $99.17.
In other news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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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