First National Trust Co. raised its position in Kraft Heinz Co. (NASDAQ:KHC) by 6.4% during the third quarter, Holdings Channel reports. The fund owned 4,142 shares of the company’s stock after buying an additional 249 shares during the period. First National Trust Co.’s holdings in Kraft Heinz were worth $371,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of KHC. Bollard Group LLC increased its stake in shares of Kraft Heinz by 815.4% in the third quarter. Bollard Group LLC now owns 1,126 shares of the company’s stock worth $101,000 after buying an additional 1,003 shares during the last quarter. Cornerstone Advisors Inc. increased its stake in shares of Kraft Heinz by 129.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,223 shares of the company’s stock worth $109,000 after buying an additional 689 shares during the last quarter. Enterprise Financial Services Corp increased its stake in shares of Kraft Heinz by 8.5% in the second quarter. Enterprise Financial Services Corp now owns 1,280 shares of the company’s stock worth $113,000 after buying an additional 100 shares during the last quarter. CWM LLC increased its stake in shares of Kraft Heinz by 21.9% in the third quarter. CWM LLC now owns 1,367 shares of the company’s stock worth $122,000 after buying an additional 246 shares during the last quarter. Finally, Blue Chip Partners Inc. acquired a new stake in shares of Kraft Heinz during the second quarter worth about $128,000. 61.69% of the stock is owned by hedge funds and other institutional investors.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded up 0.62% during trading on Friday, hitting $82.95. The stock had a trading volume of 1,230,342 shares. Kraft Heinz Co. has a one year low of $68.18 and a one year high of $90.54. The company has a market cap of $100.97 billion, a P/E ratio of 36.51 and a beta of 0.48. The stock’s 50-day moving average price is $86.12 and its 200-day moving average price is $86.85.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09. Kraft Heinz had a return on equity of 6.40% and a net margin of 10.44%. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the business earned $0.44 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that Kraft Heinz Co. will post $3.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.40 annualized dividend and a yield of 2.89%. Kraft Heinz’s dividend payout ratio (DPR) is presently 105.26%.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Monday, August 8th. Royal Bank Of Canada raised their price objective on Kraft Heinz from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Credit Suisse Group AG reissued an “outperform” rating and set a $100.00 price objective (up from $98.00) on shares of Kraft Heinz in a research report on Tuesday, August 16th. Argus raised their price objective on Kraft Heinz from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, September 28th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $99.00 target price (up from $96.00) on shares of Kraft Heinz in a research report on Monday, November 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $98.96.
In related news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total transaction of $244,468,695.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 26.92% of the company’s stock.
Kraft Heinz Company Profile
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.