WFG Advisors LP boosted its position in The Kraft Heinz Company (NASDAQ:KHC) by 13.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,385 shares of the company’s stock after purchasing an additional 517 shares during the period. WFG Advisors LP’s holdings in The Kraft Heinz were worth $376,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. increased its position in The Kraft Heinz by 16.6% during the second quarter. Westside Investment Management Inc. now owns 1,209 shares of the company’s stock worth $100,000 after buying an additional 172 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in The Kraft Heinz by 287.9% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,280 shares of the company’s stock worth $110,000 after buying an additional 950 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in The Kraft Heinz during the second quarter worth $121,000. V Wealth Management LLC purchased a new position in The Kraft Heinz during the second quarter worth $125,000. Finally, Blue Chip Partners Inc. increased its position in The Kraft Heinz by 0.5% during the second quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock worth $127,000 after buying an additional 8 shares in the last quarter. 61.59% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on KHC. BidaskClub raised The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Morgan Stanley dropped their price target on The Kraft Heinz from $92.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd. BMO Capital Markets decreased their price objective on The Kraft Heinz from $96.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, November 2nd. Susquehanna Bancshares Inc decreased their price objective on The Kraft Heinz from $83.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Finally, Credit Suisse Group restated an “outperform” rating and set a $90.00 price objective (down previously from $100.00) on shares of The Kraft Heinz in a report on Thursday, November 2nd. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $92.49.
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The Kraft Heinz Company (NASDAQ:KHC) opened at $78.78 on Thursday. The Kraft Heinz Company has a fifty-two week low of $75.21 and a fifty-two week high of $97.77. The firm has a market capitalization of $96,721.98, a price-to-earnings ratio of 22.30, a P/E/G ratio of 2.20 and a beta of 0.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.77 and a quick ratio of 0.43.
The Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.83. The Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter last year, the firm earned $0.83 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. equities analysts forecast that The Kraft Heinz Company will post 3.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Thursday, November 16th. The Kraft Heinz’s payout ratio is currently 77.88%.
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.
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