Birinyi Associates Inc. Has $2.44 Million Holdings in The Kraft Heinz Company (KHC)

Birinyi Associates Inc. grew its stake in The Kraft Heinz Company (NASDAQ:KHC) by 10.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,450 shares of the company’s stock after acquiring an additional 2,750 shares during the quarter. The Kraft Heinz accounts for 1.1% of Birinyi Associates Inc.’s portfolio, making the stock its 19th biggest holding. Birinyi Associates Inc.’s holdings in The Kraft Heinz were worth $2,436,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in KHC. Pennsylvania Trust Co lifted its holdings in shares of The Kraft Heinz by 8.9% during the second quarter. Pennsylvania Trust Co now owns 66,121 shares of the company’s stock valued at $5,663,000 after purchasing an additional 5,422 shares in the last quarter. Creative Planning lifted its holdings in shares of The Kraft Heinz by 1.9% during the second quarter. Creative Planning now owns 80,094 shares of the company’s stock valued at $6,859,000 after purchasing an additional 1,485 shares in the last quarter. Tiedemann Wealth Management LLC lifted its holdings in shares of The Kraft Heinz by 6.4% during the first quarter. Tiedemann Wealth Management LLC now owns 47,256 shares of the company’s stock valued at $4,291,000 after purchasing an additional 2,861 shares in the last quarter. New England Asset Management Inc. lifted its holdings in shares of The Kraft Heinz by 7.6% during the first quarter. New England Asset Management Inc. now owns 64,483 shares of the company’s stock valued at $5,856,000 after purchasing an additional 4,560 shares in the last quarter. Finally, Fiduciary Trust Co. lifted its holdings in shares of The Kraft Heinz by 37.4% during the first quarter. Fiduciary Trust Co. now owns 17,804 shares of the company’s stock valued at $1,617,000 after purchasing an additional 4,850 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of The Kraft Heinz Company (NASDAQ KHC) opened at 78.14 on Wednesday. The Kraft Heinz Company has a 52-week low of $76.76 and a 52-week high of $97.77. The stock has a market cap of $95.19 billion, a PE ratio of 25.04 and a beta of 0.44. The company’s 50-day moving average price is $79.28 and its 200-day moving average price is $79.28.

The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.02. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The company had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts forecast that The Kraft Heinz Company will post $3.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 18th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.50 dividend on an annualized basis and a yield of 3.20%. This is a boost from The Kraft Heinz’s previous quarterly dividend of $0.60. The Kraft Heinz’s payout ratio is currently 79.87%.

A number of brokerages have recently issued reports on KHC. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $85.00 price target (down from $94.00) on shares of The Kraft Heinz in a report on Wednesday, August 9th. Zacks Investment Research raised The Kraft Heinz from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. TheStreet raised The Kraft Heinz from a “c” rating to a “b-” rating in a report on Thursday, August 3rd. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $99.00 price target (down from $102.00) on shares of The Kraft Heinz in a report on Wednesday, June 28th. Finally, Berenberg Bank set a $102.00 price target on The Kraft Heinz and gave the company a “buy” rating in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $96.36.

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About The Kraft Heinz

The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.

Institutional Ownership by Quarter for The Kraft Heinz (NASDAQ:KHC)

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