TRUE Private Wealth Advisors acquired a new stake in shares of Kraft Heinz Co (NASDAQ:KHC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,751 shares of the company’s stock, valued at approximately $54,000.
A number of other hedge funds also recently modified their holdings of KHC. Geode Capital Management LLC boosted its position in Kraft Heinz by 12.7% during the fourth quarter. Geode Capital Management LLC now owns 8,516,204 shares of the company’s stock worth $366,004,000 after purchasing an additional 957,359 shares during the period. Two Sigma Advisers LP bought a new position in Kraft Heinz during the fourth quarter worth $237,000. Steinberg Global Asset Management bought a new position in Kraft Heinz during the first quarter worth $5,229,000. Nisa Investment Advisors LLC boosted its position in Kraft Heinz by 0.4% during the first quarter. Nisa Investment Advisors LLC now owns 196,660 shares of the company’s stock worth $6,421,000 after purchasing an additional 712 shares during the period. Finally, Carroll Financial Associates Inc. boosted its position in Kraft Heinz by 8.5% during the first quarter. Carroll Financial Associates Inc. now owns 4,670 shares of the company’s stock worth $152,000 after purchasing an additional 364 shares during the period. Institutional investors and hedge funds own 58.06% of the company’s stock.
KHC has been the subject of a number of research analyst reports. Credit Suisse Group set a $26.00 price objective on shares of Kraft Heinz and gave the stock a “sell” rating in a research report on Friday, August 9th. Evercore ISI initiated coverage on shares of Kraft Heinz in a research report on Tuesday, June 11th. They set an “in-line” rating and a $32.00 price objective for the company. Morgan Stanley set a $32.00 price objective on shares of Kraft Heinz and gave the stock a “hold” rating in a research report on Friday, August 9th. BidaskClub cut shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Piper Jaffray Companies raised shares of Kraft Heinz from an “underweight” rating to a “neutral” rating and set a $31.00 price objective for the company in a research report on Friday, May 31st. Six research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $36.45.
Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.07 billion. Kraft Heinz had a negative net margin of 43.40% and a positive return on equity of 6.06%. Kraft Heinz’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 earnings per share. Equities analysts predict that Kraft Heinz Co will post 2.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be given a $0.40 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.30%. Kraft Heinz’s payout ratio is presently 45.33%.
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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