CIBC World Markets Inc. boosted its stake in shares of Kraft Heinz Co. (NASDAQ:KHC) by 13.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,894 shares of the company’s stock after buying an additional 14,198 shares during the period. CIBC World Markets Inc.’s holdings in Kraft Heinz were worth $11,000,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Babson Capital Management LLC acquired a new stake in shares of Kraft Heinz during the first quarter valued at $2,765,000. Logan Capital Management Inc. increased its stake in Kraft Heinz by 1.1% in the first quarter. Logan Capital Management Inc. now owns 32,030 shares of the company’s stock worth $2,516,000 after buying an additional 334 shares during the period. Cypress Capital Group purchased a new stake in Kraft Heinz during the first quarter worth approximately $215,000. First Republic Investment Management Inc. increased its stake in Kraft Heinz by 5.2% in the first quarter. First Republic Investment Management Inc. now owns 28,818 shares of the company’s stock worth $2,264,000 after buying an additional 1,418 shares during the period. Finally, Iowa State Bank purchased a new stake in Kraft Heinz during the second quarter worth approximately $129,000. Institutional investors own 61.69% of the company’s stock.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded up 0.62% during mid-day trading on Friday, hitting $82.95. The company had a trading volume of 1,230,342 shares. The firm has a market capitalization of $100.97 billion, a P/E ratio of 36.51 and a beta of 0.48. Kraft Heinz Co. has a 12 month low of $68.18 and a 12 month high of $90.54. The firm has a 50-day moving average price of $86.12 and a 200 day moving average price of $86.85.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The company earned $6.27 billion during the quarter, compared to the consensus estimate of $4.70 billion. Kraft Heinz had a return on equity of 6.40% and a net margin of 10.44%. Kraft Heinz’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 earnings per share. On average, equities research analysts forecast that Kraft Heinz Co. will post $3.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.89%. The ex-dividend date is Wednesday, November 30th. Kraft Heinz’s payout ratio is 105.26%.
A number of research firms recently commented on KHC. Susquehanna reaffirmed a “buy” rating on shares of Kraft Heinz in a report on Monday, August 22nd. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $100.00 target price on shares of Kraft Heinz in a report on Saturday, August 13th. Argus lifted their target price on Kraft Heinz from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, September 28th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $100.00 target price (up previously from $98.00) on shares of Kraft Heinz in a report on Tuesday, August 16th. Finally, JPMorgan Chase & Co. reissued a “focus list” rating on shares of Kraft Heinz in a report on Tuesday, October 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $98.96.
In other news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of Kraft Heinz stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total value of $244,468,695.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 26.92% of the company’s stock.
About Kraft Heinz