Waldron Private Wealth LLC acquired a new stake in Kraft Heinz Co (NASDAQ:KHC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,481 shares of the company’s stock, valued at approximately $201,000.
A number of other large investors have also recently bought and sold shares of KHC. Magellan Asset Management Ltd increased its stake in shares of Kraft Heinz by 12.2% during the 1st quarter. Magellan Asset Management Ltd now owns 37,093,237 shares of the company’s stock worth $1,211,094,000 after purchasing an additional 4,046,115 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Kraft Heinz by 12.7% during the 4th 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 last quarter. SG Americas Securities LLC increased its stake in shares of Kraft Heinz by 1,617.7% during the 1st quarter. SG Americas Securities LLC now owns 670,834 shares of the company’s stock worth $21,903,000 after purchasing an additional 631,779 shares during the last quarter. Apertura Capital LLC increased its stake in shares of Kraft Heinz by 357.1% during the 1st quarter. Apertura Capital LLC now owns 800,000 shares of the company’s stock worth $26,120,000 after purchasing an additional 625,000 shares during the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of Kraft Heinz during the 1st quarter worth approximately $18,366,000. Hedge funds and other institutional investors own 58.06% of the company’s stock.
NASDAQ:KHC traded down $0.95 during trading hours on Wednesday, hitting $25.34. The stock had a trading volume of 5,915,655 shares, compared to its average volume of 10,368,635. The business’s 50 day moving average price is $30.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.21 and a quick ratio of 0.85. Kraft Heinz Co has a one year low of $25.74 and a one year high of $61.68. The stock has a market cap of $32.33 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth ratio of 2.64 and a beta of 0.74.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. Kraft Heinz had a negative net margin of 38.95% and a positive return on equity of 6.89%. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.07 billion. During the same period last year, the firm earned $0.90 EPS. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. Research analysts predict that Kraft Heinz Co will post 2.74 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.31%. The ex-dividend date of this dividend is Tuesday, August 20th. Kraft Heinz’s payout ratio is 45.33%.
Several equities research analysts have recently issued reports on KHC shares. Morgan Stanley set a $32.00 price target on shares of Kraft Heinz and gave the stock a “hold” rating in a research note on Friday, August 9th. Credit Suisse Group set a $26.00 price objective on shares of Kraft Heinz and gave the company a “sell” rating in a research note on Friday, August 9th. Wells Fargo & Co set a $29.00 price objective on shares of Kraft Heinz and gave the company a “hold” rating in a research note on Friday, August 9th. Guggenheim lowered shares of Kraft Heinz from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $29.00 to $25.00 in a research note on Friday, August 9th. Finally, Barclays set a $30.00 price objective on shares of Kraft Heinz and gave the company a “hold” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $36.45.
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.
See Also: Intrinsic Value and Stock Selection
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