Close Asset Management Ltd lifted its holdings in Kraft Heinz Co (NASDAQ:KHC) by 6.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,003 shares of the company’s stock after purchasing an additional 360 shares during the quarter. Close Asset Management Ltd’s holdings in Kraft Heinz were worth $186,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of KHC. Northwestern Mutual Investment Management Company LLC lifted its position in Kraft Heinz by 36.7% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 94,503 shares of the company’s stock worth $3,086,000 after acquiring an additional 25,381 shares during the period. Cypress Wealth Advisors LLC lifted its position in Kraft Heinz by 11.3% during the 1st quarter. Cypress Wealth Advisors LLC now owns 7,415 shares of the company’s stock worth $242,000 after acquiring an additional 751 shares during the period. CWM LLC lifted its position in Kraft Heinz by 58.3% during the 1st quarter. CWM LLC now owns 3,443 shares of the company’s stock worth $112,000 after acquiring an additional 1,268 shares during the period. Investec Asset Management LTD acquired a new stake in Kraft Heinz during the 1st quarter worth about $342,000. Finally, AMG National Trust Bank lifted its position in Kraft Heinz by 5.8% during the 1st quarter. AMG National Trust Bank now owns 103,978 shares of the company’s stock worth $3,395,000 after acquiring an additional 5,727 shares during the period. 58.06% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on KHC shares. Credit Suisse Group set a $26.00 price objective on Kraft Heinz and gave the company a “sell” rating in a research note on Friday, August 9th. BidaskClub lowered Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley set a $32.00 price target on Kraft Heinz and gave the company a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Co set a $29.00 price target on Kraft Heinz and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Piper Jaffray Companies upgraded Kraft Heinz from an “underweight” rating to a “neutral” rating and set a $31.00 price target for the company in a research note on Friday, May 31st. Six equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $36.45.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.07 billion. Kraft Heinz had a positive return on equity of 6.89% and a negative net margin of 38.95%. Kraft Heinz’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 EPS. Analysts anticipate that Kraft Heinz Co will post 2.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.16%. The ex-dividend date is Tuesday, August 20th. Kraft Heinz’s dividend payout ratio is currently 45.33%.
About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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