Magellan Asset Management Ltd Boosts Position in Kraft Heinz Co (KHC)

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Magellan Asset Management Ltd boosted its holdings in shares of Kraft Heinz Co (NASDAQ:KHC) by 39.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,621,370 shares of the company’s stock after buying an additional 9,529,235 shares during the period. Kraft Heinz makes up about 7.4% of Magellan Asset Management Ltd’s holdings, making the stock its 3rd largest holding. Magellan Asset Management Ltd owned 2.76% of Kraft Heinz worth $2,112,094,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. BlackRock Inc. lifted its stake in Kraft Heinz by 0.8% during the first quarter. BlackRock Inc. now owns 35,345,299 shares of the company’s stock worth $2,201,661,000 after purchasing an additional 271,341 shares during the last quarter. FMR LLC lifted its stake in Kraft Heinz by 34.4% during the second quarter. FMR LLC now owns 8,254,817 shares of the company’s stock worth $518,567,000 after purchasing an additional 2,111,198 shares during the last quarter. Federated Investors Inc. PA lifted its stake in Kraft Heinz by 39,913.8% during the second quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock worth $214,038,000 after purchasing an additional 3,398,664 shares during the last quarter. Legal & General Group Plc lifted its stake in Kraft Heinz by 3.4% during the second quarter. Legal & General Group Plc now owns 2,891,188 shares of the company’s stock worth $181,612,000 after purchasing an additional 93,997 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in 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 purchasing an additional 345,034 shares during the last quarter. 62.84% of the stock is owned by institutional investors.

Kraft Heinz stock opened at $57.00 on Thursday. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 0.48. The company has a market cap of $71.05 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.99 and a beta of 0.50. Kraft Heinz Co has a fifty-two week low of $54.11 and a fifty-two week high of $82.98.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Friday, August 3rd. The company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. The business had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.57 billion. Kraft Heinz had a return on equity of 6.16% and a net margin of 40.85%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. analysts forecast that Kraft Heinz Co will post 3.72 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 17th will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, August 16th. This represents a $2.50 annualized dividend and a yield of 4.39%. Kraft Heinz’s payout ratio is 70.42%.

In other news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eduardo Pelleissone sold 35,000 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders own 26.81% of the company’s stock.

Several research firms have recently commented on KHC. Zacks Investment Research downgraded Kraft Heinz from a “hold” rating to a “sell” rating in a report on Wednesday. Susquehanna Bancshares set a $58.00 price target on Kraft Heinz and gave the company a “hold” rating in a report on Tuesday, May 22nd. BidaskClub upgraded Kraft Heinz from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Bank of America set a $85.00 price target on Kraft Heinz and gave the company a “buy” rating in a report on Monday, August 6th. Finally, Jefferies Financial Group restated a “buy” rating and set a $75.00 price target on shares of Kraft Heinz in a report on Tuesday, August 7th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Kraft Heinz 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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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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