180 Wealth Advisors LLC boosted its stake in Kraft Heinz Co (NASDAQ:KHC) by 22.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,985 shares of the company’s stock after purchasing an additional 1,820 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Kraft Heinz were worth $627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Kraft Heinz by 0.8% in the first quarter. BlackRock Inc. now owns 35,345,299 shares of the company’s stock valued at $2,201,661,000 after purchasing an additional 271,341 shares in the last quarter. Magellan Asset Management Ltd raised its stake 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 acquiring an additional 2,663,103 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Kraft Heinz by 15.2% during the first quarter. Principal Financial Group Inc. now owns 2,612,932 shares of the company’s stock worth $162,759,000 after acquiring an additional 345,034 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Kraft Heinz by 16.3% during the second quarter. Wells Fargo & Company MN now owns 2,511,521 shares of the company’s stock worth $157,774,000 after acquiring an additional 352,642 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Kraft Heinz by 1.2% during the second quarter. Bessemer Group Inc. now owns 2,325,844 shares of the company’s stock worth $146,109,000 after acquiring an additional 28,406 shares in the last quarter. 62.48% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on the stock. Bank of America set a $85.00 price target on shares of Kraft Heinz and gave the stock a “buy” rating in a research note on Monday, August 6th. DZ Bank reissued a “sell” rating on shares of Kraft Heinz in a research note on Friday, May 4th. Credit Suisse Group set a $55.00 price target on shares of Kraft Heinz and gave the stock a “hold” rating in a research note on Thursday, May 3rd. BidaskClub raised shares of Kraft Heinz from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 31st. Finally, Royal Bank of Canada reissued a “buy” rating and set a $77.00 price target on shares of Kraft Heinz in a research note on Tuesday, April 24th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $75.25.
In related 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 value of $1,234,724,292.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Eduardo Pelleissone sold 35,000 shares of Kraft Heinz 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 NASDAQ KHC opened at $61.02 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 0.48. Kraft Heinz Co has a 52 week low of $54.11 and a 52 week high of $85.28. The firm has a market capitalization of $72.73 billion, a P/E ratio of 17.19, a PEG ratio of 2.03 and a beta of 0.59.
Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Friday, August 3rd. The company reported $1.00 EPS for the quarter, topping the 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 company had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. analysts anticipate that Kraft Heinz Co will post 3.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 17th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Thursday, August 16th. Kraft Heinz’s payout ratio is 70.42%.
Kraft Heinz Company 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.
Recommended Story: Understanding Price to Earnings Ratio (PE)
Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Heinz Co (NASDAQ:KHC).
Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.