First Citizens Bank & Trust Co. lowered its stake in shares of Kraft Heinz Co. (NASDAQ:KHC) by 12.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,283 shares of the company’s stock after selling 2,768 shares during the period. First Citizens Bank & Trust Co.’s holdings in Kraft Heinz were worth $1,795,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Quantitative Systematic Strategies LLC raised its stake in Kraft Heinz by 13.9% in the second quarter. Quantitative Systematic Strategies LLC now owns 10,488 shares of the company’s stock worth $905,000 after buying an additional 1,282 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Kraft Heinz by 2.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 25,428 shares of the company’s stock worth $2,250,000 after buying an additional 585 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Kraft Heinz by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 1,637 shares of the company’s stock worth $135,000 after buying an additional 94 shares during the last quarter. Diligent Investors LLC raised its stake in Kraft Heinz by 9.3% in the second quarter. Diligent Investors LLC now owns 4,321 shares of the company’s stock worth $382,000 after buying an additional 366 shares during the last quarter. Finally, LMR Partners LLP raised its stake in Kraft Heinz by 3,207.4% in the second quarter. LMR Partners LLP now owns 124,525 shares of the company’s stock worth $11,018,000 after buying an additional 120,760 shares during the last quarter. 61.30% of the stock is currently owned by institutional investors.
Kraft Heinz Co. (NASDAQ:KHC) traded down 1.18% on Tuesday, reaching $87.46. 1,049,103 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $88.60 and its 200 day moving average price is $85.29. The company has a market cap of $106.50 billion, a PE ratio of 64.12 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 posted its quarterly earnings results on Thursday, August 4th. The company reported $0.85 EPS for the quarter, topping the consensus estimate 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 net margin of 6.87% and a return on equity of 5.78%. The business’s revenue was up 159.7% compared to the same quarter last year. During the same period last year, the firm posted $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 was paid on Friday, October 7th. Shareholders of record on Friday, August 26th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 2.71%. Kraft Heinz’s dividend payout ratio (DPR) is 181.82%.
A number of equities research analysts have weighed in on the stock. Vetr raised shares of Kraft Heinz from a “buy” rating to a “strong-buy” rating and set a $98.22 target price on the stock in a report on Thursday, October 6th. JPMorgan Chase & Co. reissued a “focus list” rating on shares of Kraft Heinz in a report on Tuesday, October 4th. Argus boosted their target price on shares of Kraft Heinz from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, September 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Kraft Heinz in a research note on Tuesday, September 27th. Finally, Sanford C. Bernstein set a $110.00 price objective on shares of Kraft Heinz and gave the company a “buy” rating in a research note on Monday, September 12th. Two research analysts have rated the stock with a sell rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price 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 that occurred on Tuesday, September 20th. The shares were sold at an average price of $87.05, for a total value of $244,468,695.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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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