Mid Atlantic Financial Management Inc. ADV cut its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 44.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,261 shares of the company’s stock after selling 7,534 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in Kraft Heinz were worth $287,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in KHC. Magellan Asset Management Ltd grew its stake in shares of Kraft Heinz by 12.2% in the first quarter. Magellan Asset Management Ltd now owns 37,093,237 shares of the company’s stock valued at $1,211,094,000 after buying an additional 4,046,115 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Kraft Heinz by 12.7% in the 4th quarter. Geode Capital Management LLC now owns 8,516,204 shares of the company’s stock worth $366,004,000 after purchasing an additional 957,359 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Kraft Heinz by 10.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,555,650 shares of the company’s stock worth $79,327,000 after purchasing an additional 241,985 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Kraft Heinz by 6.0% in the 2nd quarter. Swiss National Bank now owns 2,504,963 shares of the company’s stock worth $77,754,000 after purchasing an additional 142,400 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Kraft Heinz by 0.6% in the 1st quarter. New York State Common Retirement Fund now owns 1,782,256 shares of the company’s stock worth $58,191,000 after purchasing an additional 10,716 shares during the last quarter. Institutional investors own 55.81% of the company’s stock.
Several brokerages have recently commented on KHC. Wells Fargo & Co set a $29.00 target price on Kraft Heinz and gave the stock a “hold” rating in a research report on Friday, August 9th. Credit Suisse Group set a $26.00 price objective on Kraft Heinz and gave the company a “sell” rating in a research report on Friday, August 9th. Morgan Stanley set a $32.00 price objective on Kraft Heinz and gave the company a “hold” rating in a research report on Friday, August 9th. BidaskClub cut Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, BMO Capital Markets reduced their price objective on Kraft Heinz from $40.00 to $33.00 and set a “market perform” rating for the company in a research report on Monday, August 12th. Six equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $36.45.
Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. Kraft Heinz had a positive return on equity of 6.06% and a negative net margin of 43.40%. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.07 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The company’s revenue was down 5.5% on a year-over-year basis. On average, analysts forecast that Kraft Heinz Co will post 2.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.60 annualized dividend and a yield of 6.38%. Kraft Heinz’s dividend payout ratio (DPR) is currently 45.33%.
Kraft Heinz Profile
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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