Kraft Heinz Co (KHC) Holdings Trimmed by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lessened its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 42.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 15,725 shares of the company’s stock after selling 11,490 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Kraft Heinz were worth $988,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Kraft Heinz by 0.8% during the 1st quarter. BlackRock Inc. now owns 35,345,299 shares of the company’s stock worth $2,201,661,000 after buying an additional 271,341 shares during the period. Magellan Asset Management Ltd grew its position in shares of Kraft Heinz by 39.6% during the 2nd quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock worth $2,112,094,000 after buying an additional 9,529,235 shares during the period. FMR LLC grew its position in shares of Kraft Heinz by 34.4% during the 2nd quarter. FMR LLC now owns 8,254,817 shares of the company’s stock worth $518,567,000 after buying an additional 2,111,198 shares during the period. Federated Investors Inc. PA grew its position in shares of Kraft Heinz by 39,913.8% during the 2nd quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock worth $214,038,000 after buying an additional 3,398,664 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Kraft Heinz by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 2,891,188 shares of the company’s stock worth $181,612,000 after buying an additional 93,997 shares during the period. 62.84% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Eduardo Pelleissone sold 35,000 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the firm’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 disclosure for this sale can be found here. 26.81% of the stock is currently owned by company insiders.

A number of equities analysts recently issued reports on the company. Bank of America set a $85.00 target price on Kraft Heinz and gave the stock a “buy” rating in a report on Monday, August 6th. BidaskClub upgraded Kraft Heinz from a “strong sell” rating to a “sell” rating in a report on Thursday, May 31st. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 target price on shares of Kraft Heinz in a report on Tuesday, August 7th. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Monday, August 27th. Finally, Susquehanna Bancshares set a $58.00 price objective on Kraft Heinz and gave the company a “hold” rating in a research note on Tuesday, May 22nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $75.25.

Shares of NASDAQ:KHC opened at $58.97 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 0.48. Kraft Heinz Co has a 1-year low of $54.11 and a 1-year high of $82.48. The firm has a market cap of $72.08 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 2.01 and a beta of 0.50.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 17th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 4.24%. The ex-dividend date was Thursday, August 16th. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.42%.

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.

Further Reading: Leveraged Buyout (LBO) Explained

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

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