Ingalls & Snyder LLC lessened its stake in Kraft Heinz Co (NASDAQ:KHC) by 14.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,272 shares of the company’s stock after selling 10,025 shares during the quarter. Ingalls & Snyder LLC’s holdings in Kraft Heinz were worth $3,598,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Kraft Heinz by 0.8% during the 1st quarter. BlackRock Inc. now owns 35,345,299 shares of the company’s stock valued at $2,201,661,000 after buying an additional 271,341 shares during the last quarter. Magellan Asset Management Ltd boosted its stake in shares of Kraft Heinz by 12.4% during the 1st quarter. Magellan Asset Management Ltd now owns 24,092,135 shares of the company’s stock valued at $1,500,699,000 after buying an additional 2,663,103 shares during the last quarter. FMR LLC boosted its stake in shares of Kraft Heinz by 34.4% during the 2nd quarter. FMR LLC now owns 8,254,817 shares of the company’s stock valued at $518,567,000 after buying an additional 2,111,198 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of Kraft Heinz by 39,913.8% during the 2nd quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock valued at $214,038,000 after buying an additional 3,398,664 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Kraft Heinz by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 2,891,188 shares of the company’s stock valued at $181,612,000 after buying an additional 93,997 shares during the last quarter. Hedge funds and other institutional investors own 62.84% of the company’s stock.
In other Kraft Heinz news, EVP Eduardo Pelleissone sold 35,000 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $63.85, for a total value of $2,234,750.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $59.85, for a total value of $1,234,724,292.90. The disclosure for this sale can be found here. 26.81% of the stock is owned by company insiders.
Shares of KHC opened at $59.30 on Thursday. Kraft Heinz Co has a 12-month low of $54.11 and a 12-month high of $82.98. The firm has a market cap of $72.63 billion, a P/E ratio of 16.70, a PEG ratio of 2.03 and a beta of 0.59. 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 (NASDAQ:KHC) last announced its quarterly earnings data on Friday, August 3rd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.08. Kraft Heinz had a return on equity of 6.16% and a net margin of 40.85%. The firm had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.57 billion. During the same period last year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. analysts predict that Kraft Heinz Co will post 3.72 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 17th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Thursday, August 16th. Kraft Heinz’s dividend payout ratio is presently 70.42%.
Several equities analysts have recently commented on KHC shares. Morgan Stanley reduced their target price on Kraft Heinz from $73.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, May 3rd. BidaskClub cut Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 23rd. ValuEngine cut Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Susquehanna Bancshares set a $58.00 price objective on Kraft Heinz and gave the stock a “hold” rating in a research note on Tuesday, May 22nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $75.25.
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.
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