State of Alaska Department of Revenue trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 20.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,144 shares of the company’s stock after selling 540 shares during the quarter. State of Alaska Department of Revenue’s holdings in The Kraft Heinz were worth $183,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Tiedemann Wealth Management LLC raised its holdings in The Kraft Heinz by 6.4% during the 1st quarter. Tiedemann Wealth Management LLC now owns 47,256 shares of the company’s stock worth $4,291,000 after purchasing an additional 2,861 shares during the last quarter. Pillar Pacific Capital Management LLC raised its holdings in The Kraft Heinz by 7.6% during the 1st quarter. Pillar Pacific Capital Management LLC now owns 3,693 shares of the company’s stock worth $335,000 after purchasing an additional 262 shares during the last quarter. New England Asset Management Inc. raised its holdings in The Kraft Heinz by 7.6% during the 1st quarter. New England Asset Management Inc. now owns 64,483 shares of the company’s stock worth $5,856,000 after purchasing an additional 4,560 shares during the last quarter. Kwmg LLC bought a new stake in The Kraft Heinz during the 1st quarter worth about $261,000. Finally, K2 Principal Fund L.P. raised its holdings in The Kraft Heinz by 338.8% during the 1st quarter. K2 Principal Fund L.P. now owns 14,507 shares of the company’s stock worth $1,317,000 after purchasing an additional 11,201 shares during the last quarter. 61.91% of the stock is owned by institutional investors and hedge funds.
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Shares of The Kraft Heinz Company (NASDAQ KHC) traded down 0.23% during trading on Tuesday, hitting $82.36. The company had a trading volume of 1,018,284 shares. The Kraft Heinz Company has a 12-month low of $79.69 and a 12-month high of $97.77. The stock has a 50-day moving average of $84.91 and a 200 day moving average of $88.89. The stock has a market capitalization of $100.34 billion, a price-to-earnings ratio of 26.40 and a beta of 0.45.
The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.02. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The company had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same period last year, the company earned $0.85 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, analysts predict that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.03%. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, August 16th. The Kraft Heinz’s dividend payout ratio (DPR) is 79.87%.
Several analysts have weighed in on the company. BidaskClub cut The Kraft Heinz from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 5th. Credit Suisse Group set a $100.00 price objective on The Kraft Heinz and gave the stock a “buy” rating in a report on Sunday. Royal Bank Of Canada set a $96.00 price objective on The Kraft Heinz and gave the stock a “buy” rating in a report on Saturday, June 3rd. BMO Capital Markets restated a “hold” rating and set a $96.00 target price on shares of The Kraft Heinz in a research report on Wednesday, September 6th. Finally, Zacks Investment Research upgraded The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $97.26.
The 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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