Vontobel Asset Management Inc. raised its holdings in Kraft Heinz Co (NASDAQ:KHC) by 6.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,178,734 shares of the company’s stock after purchasing an additional 75,394 shares during the quarter. Vontobel Asset Management Inc.’s holdings in Kraft Heinz were worth $74,050,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in KHC. Burgundy Asset Management Ltd. raised its position in shares of Kraft Heinz by 66.7% in the first quarter. Burgundy Asset Management Ltd. now owns 25,000 shares of the company’s stock valued at $1,557,000 after buying an additional 10,000 shares during the last quarter. Tredje AP fonden raised its position in shares of Kraft Heinz by 69.9% in the second quarter. Tredje AP fonden now owns 128,756 shares of the company’s stock valued at $8,088,000 after buying an additional 52,959 shares during the last quarter. Strategic Advisors LLC raised its position in shares of Kraft Heinz by 38.8% in the second quarter. Strategic Advisors LLC now owns 24,710 shares of the company’s stock valued at $1,552,000 after buying an additional 6,908 shares during the last quarter. Loudon Investment Management LLC acquired a new position in shares of Kraft Heinz in the second quarter valued at approximately $2,713,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Kraft Heinz by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,208,820 shares of the company’s stock valued at $138,759,000 after buying an additional 94,749 shares during the last quarter. 62.84% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Wednesday. Bank of America set a $85.00 price target on shares of Kraft Heinz and gave the stock a “buy” rating in a research report on Monday, August 6th. BidaskClub raised shares of Kraft Heinz from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 31st. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price target on shares of Kraft Heinz in a research report on Tuesday, August 7th. Finally, Susquehanna Bancshares set a $58.00 price target on shares of Kraft Heinz and gave the stock a “hold” rating in a research report on Tuesday, May 22nd. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $75.25.
Shares of Kraft Heinz stock traded down $0.52 during trading hours on Friday, hitting $56.28. The company’s stock had a trading volume of 59,025 shares, compared to its average volume of 4,992,953. Kraft Heinz Co has a 1-year low of $54.11 and a 1-year high of $82.98. The firm has a market capitalization of $69.50 billion, a P/E ratio of 15.86, a PEG ratio of 1.94 and a beta of 0.50. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 0.48.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Friday, August 3rd. The company reported $1.00 earnings per share (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 during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. research analysts expect that Kraft Heinz Co will post 3.72 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 17th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Thursday, August 16th. Kraft Heinz’s payout ratio is currently 70.42%.
In other news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eduardo Pelleissone sold 35,000 shares of the company’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 corporate insiders.
About Kraft Heinz
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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