Public Employees Retirement Association of Colorado decreased its position in Kraft Heinz Co. (NASDAQ:KHC) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 128,571 shares of the company’s stock after selling 5,429 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Kraft Heinz were worth $11,376,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Balentine LLC boosted its stake in Kraft Heinz by 43.3% in the first quarter. Balentine LLC now owns 1,605 shares of the company’s stock worth $126,000 after buying an additional 485 shares during the period. Iowa State Bank purchased a new position in shares of Kraft Heinz during the second quarter worth approximately $129,000. Quadrant Capital Group LLC raised its position in shares of 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 in the last quarter. Vigilant Capital Management LLC raised its position in shares of Kraft Heinz by 7.1% in the second quarter. Vigilant Capital Management LLC now owns 1,756 shares of the company’s stock worth $155,000 after buying an additional 116 shares in the last quarter. Finally, Sadoff Investment Management LLC purchased a new position in shares of Kraft Heinz during the second quarter worth approximately $201,000. Institutional investors own 61.30% of the company’s stock.
Kraft Heinz Co. (NASDAQ:KHC) traded up 1.70% during mid-day trading on Friday, reaching $88.53. The company had a trading volume of 2,388,906 shares. The stock has a market capitalization of $107.80 billion, a P/E ratio of 64.90 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. The stock has a 50 day moving average price of $88.40 and a 200-day moving average price of $85.33.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.14. The business had revenue of $6.79 billion for 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%. Kraft Heinz’s quarterly revenue was up 159.7% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. Equities analysts anticipate that Kraft Heinz Co. will post $3.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 7th. Shareholders of record on Friday, August 26th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. 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 2.71%. Kraft Heinz’s payout ratio is presently 181.82%.
A number of brokerages have commented on KHC. Vetr raised Kraft Heinz from a “sell” rating to a “hold” rating and set a $87.68 price objective 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 objective on the stock in a report on Monday, August 8th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and issued a $98.00 price objective (up from $93.00) on shares of Kraft Heinz in a report on Friday, July 15th. Royal Bank Of Canada upped their price objective 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 reaffirmed an “outperform” rating and issued a $100.00 price objective (up from $98.00) on shares of Kraft Heinz in a report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company currently has an average 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 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 document filed with the SEC, which can be accessed through this hyperlink. 26.92% of the stock is owned by company insiders.
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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