Chemung Canal Trust Co. reduced its position in shares of Kraft Heinz Co. (NASDAQ:KHC) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,192 shares of the company’s stock after selling 365 shares during the period. Chemung Canal Trust Co.’s holdings in Kraft Heinz were worth $901,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Evanson Asset Management LLC increased its stake in Kraft Heinz by 0.5% in the second quarter. Evanson Asset Management LLC now owns 3,011 shares of the company’s stock worth $266,000 after buying an additional 16 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Kraft Heinz by 0.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,112 shares of the company’s stock worth $364,000 after buying an additional 38 shares during the last quarter. Cape Cod Five Cents Savings Bank increased its stake in Kraft Heinz by 1.0% in the second quarter. Cape Cod Five Cents Savings Bank now owns 4,572 shares of the company’s stock worth $405,000 after buying an additional 46 shares during the last quarter. Bath Savings Trust Co increased its stake in Kraft Heinz by 1.8% in the second quarter. Bath Savings Trust Co now owns 2,667 shares of the company’s stock worth $236,000 after buying an additional 47 shares during the last quarter. Finally, Ausdal Financial Partners Inc. increased its stake in Kraft Heinz by 2.1% in the second quarter. Ausdal Financial Partners Inc. now owns 2,985 shares of the company’s stock worth $264,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 61.39% of the company’s stock.
Kraft Heinz Co. (NASDAQ:KHC) traded up 1.25% during mid-day trading on Tuesday, reaching $89.94. 1,115,260 shares of the company’s stock traded hands. The company has a market capitalization of $109.52 billion, a price-to-earnings ratio of 65.94 and a beta of 0.47. The company has a 50-day moving average of $88.41 and a 200-day moving average of $85.57. Kraft Heinz Co. has a 52-week low of $68.18 and a 52-week high of $90.54.
Kraft Heinz (NASDAQ:KHC) last posted its 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. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The firm earned $6.79 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. Kraft Heinz’s quarterly revenue was up 159.7% on a year-over-year basis. Equities research analysts expect that Kraft Heinz Co. will post $3.24 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 7th. Shareholders of record on Friday, August 26th were given a $0.60 dividend. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.40 annualized dividend and a yield of 2.70%. Kraft Heinz’s dividend payout ratio is 181.82%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. RBC Capital Markets reiterated an “outperform” rating and set a $96.00 price target (up from $92.00) on shares of Kraft Heinz in a research report on Friday, August 5th. Stifel Nicolaus lifted their price objective on Kraft Heinz from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Vetr downgraded Kraft Heinz from a “hold” rating to a “sell” rating and set a $82.91 price objective for the company. in a research report on Wednesday, June 29th. Finally, Deutsche Bank AG upgraded Kraft Heinz from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $103.00 in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The stock presently 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 company’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $87.05, for a total value of $244,468,695.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 26.92% of the stock is currently 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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