Meadow Creek Investment Management LLC cut its stake in Kraft Heinz Co (NASDAQ:KHC) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,260 shares of the company’s stock after selling 3,444 shares during the period. Meadow Creek Investment Management LLC’s holdings in Kraft Heinz were worth $7,994,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Integrated Investment Consultants LLC lifted its stake in Kraft Heinz by 133.5% during the second quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock valued at $106,000 after purchasing an additional 965 shares during the last quarter. Stevens First Principles Investment Advisors acquired a new stake in Kraft Heinz during the second quarter valued at approximately $108,000. Princeton Capital Management LLC acquired a new stake in Kraft Heinz during the first quarter valued at approximately $112,000. Kiley Juergens Wealth Management LLC acquired a new stake in Kraft Heinz during the second quarter valued at approximately $113,000. Finally, Rainier Group Investment Advisory LLC acquired a new stake in Kraft Heinz during the first quarter valued at approximately $118,000. Institutional investors and hedge funds own 62.84% of the company’s stock.
In other news, EVP Eduardo Pelleissone sold 35,000 shares of the 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $1,234,724,292.90. The disclosure for this sale can be found here. Corporate insiders own 26.81% of the company’s stock.
KHC stock 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 company has a debt-to-equity ratio of 0.48, a current ratio of 1.05 and a quick ratio of 0.70. The company has a market capitalization of $72.63 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 2.03 and a beta of 0.59.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Friday, August 3rd. The company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $6.57 billion. During the same quarter in the prior year, the business posted $0.98 EPS. Kraft Heinz’s quarterly revenue was up .7% on a year-over-year basis. research analysts expect that Kraft Heinz Co will post 3.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 17th will be paid a dividend of $0.625 per share. The ex-dividend date is Thursday, August 16th. This represents a $2.50 annualized dividend and a dividend yield of 4.22%. Kraft Heinz’s dividend payout ratio (DPR) is 70.42%.
Several brokerages recently commented on KHC. Deutsche Bank reduced their price target on shares of Kraft Heinz from $67.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, May 3rd. Zacks Investment Research downgraded shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. Credit Suisse Group set a $55.00 price target on shares of Kraft Heinz and gave the company a “hold” rating in a research report on Thursday, May 3rd. DZ Bank restated a “sell” rating on shares of Kraft Heinz in a research report on Friday, May 4th. Finally, Morgan Stanley reduced their price target on shares of Kraft Heinz from $73.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, May 3rd. Four investment analysts have rated the stock with a sell rating, six have given 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 an average 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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