Vontobel Asset Management Inc. boosted its position in Kraft Heinz Co. (NASDAQ:KHC) by 76.4% during the third quarter, Holdings Channel reports. The firm owned 518,150 shares of the company’s stock after buying an additional 224,400 shares during the period. Vontobel Asset Management Inc.’s holdings in Kraft Heinz were worth $46,380,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Community Trust & Investment Co. raised its stake in Kraft Heinz by 0.4% in the third quarter. Community Trust & Investment Co. now owns 20,069 shares of the company’s stock worth $1,796,000 after buying an additional 70 shares during the period. Jacobs & Co. CA raised its stake in Kraft Heinz by 6.4% in the third quarter. Jacobs & Co. CA now owns 36,893 shares of the company’s stock worth $3,302,000 after buying an additional 2,221 shares during the period. Canal Capital Management LLC purchased a new stake in Kraft Heinz during the third quarter worth $320,000. Dorsey Wright & Associates purchased a new stake in Kraft Heinz during the third quarter worth $506,000. Finally, Oliver Luxxe Assets LLC raised its stake in Kraft Heinz by 9.1% in the third quarter. Oliver Luxxe Assets LLC now owns 38,351 shares of the company’s stock worth $3,433,000 after buying an additional 3,196 shares during the period. 61.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded up 0.62% during midday trading on Friday, hitting $82.95. 1,230,342 shares of the stock were exchanged. Kraft Heinz Co. has a 1-year low of $68.18 and a 1-year high of $90.54. The firm has a 50-day moving average of $85.96 and a 200-day moving average of $86.84. The company has a market capitalization of $100.97 billion, a P/E ratio of 36.51 and a beta of 0.48.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $4.70 billion. Kraft Heinz had a net margin of 10.44% and a return on equity of 6.40%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. On average, equities analysts expect that Kraft Heinz Co. will post $3.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend 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 weighed in on KHC. Vetr lowered shares of Kraft Heinz from a “strong-buy” rating to a “buy” rating and set a $88.44 target price on the stock. in a report on Monday, November 21st. Zacks Investment Research lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating in a report on Tuesday, November 8th. RBC Capital Markets reaffirmed an “outperform” rating and set a $99.00 target price (up previously from $96.00) on shares of Kraft Heinz in a report on Monday, November 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $96.00 target price (down previously from $99.00) on shares of Kraft Heinz in a report on Monday, November 7th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Kraft Heinz in a report on Friday, November 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Kraft Heinz 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 firm’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $87.05, for a total value of $244,468,695.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 26.92% of the stock is currently owned by corporate insiders.
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.