Schwab Charles Investment Management Inc. grew its position in Kraft Heinz Co (NASDAQ:KHC) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,208,820 shares of the company’s stock after buying an additional 94,749 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.18% of Kraft Heinz worth $138,759,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Magellan Asset Management Ltd boosted its holdings in shares of Kraft Heinz by 12.4% during the first quarter. Magellan Asset Management Ltd now owns 24,092,135 shares of the company’s stock worth $1,500,699,000 after purchasing an additional 2,663,103 shares during the period. River Road Asset Management LLC bought a new position in Kraft Heinz during the first quarter valued at approximately $52,298,000. First Trust Advisors LP raised its position in Kraft Heinz by 36.7% during the second quarter. First Trust Advisors LP now owns 2,179,768 shares of the company’s stock valued at $136,933,000 after acquiring an additional 585,694 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in Kraft Heinz during the first quarter valued at approximately $27,132,000. Finally, Commerzbank Aktiengesellschaft FI raised its position in Kraft Heinz by 83.9% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 899,179 shares of the company’s stock valued at $56,010,000 after acquiring an additional 410,359 shares in the last quarter. Institutional investors own 62.48% of the company’s stock.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of Kraft Heinz stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total transaction of $1,234,724,292.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Eduardo Pelleissone sold 35,000 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $63.85, for a total transaction of $2,234,750.00. The disclosure for this sale can be found here. 26.81% of the stock is owned by insiders.
Shares of KHC stock opened at $61.02 on Friday. Kraft Heinz Co has a 1 year low of $54.11 and a 1 year high of $85.28. The firm has a market cap of $72.73 billion, a P/E ratio of 17.19, a P/E/G ratio of 2.03 and a beta of 0.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.70 and a current ratio of 1.05.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Friday, August 3rd. The company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. Kraft Heinz had a net margin of 40.85% and a return on equity of 6.16%. The firm had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. analysts predict that Kraft Heinz Co will post 3.72 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 17th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.50 dividend on an annualized basis and a yield of 4.10%. Kraft Heinz’s dividend payout ratio is currently 70.42%.
KHC has been the topic of several recent research reports. Morgan Stanley cut their price objective on shares of Kraft Heinz from $73.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, May 3rd. BidaskClub lowered shares of Kraft Heinz from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 23rd. ValuEngine lowered shares of Kraft Heinz from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Susquehanna Bancshares set a $58.00 price objective on shares of Kraft Heinz and gave the company a “hold” rating in a research report on Tuesday, May 22nd. Finally, BMO Capital Markets cut their price objective on shares of Kraft Heinz from $74.00 to $67.00 and set a “market perform” rating on the stock in a research report on Friday, May 4th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.25.
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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