Todays Report: The Armbruster Capital Management Inc. reduces its investment in Kraft Heinz Co. (KHC)

The Armbruster Capital Management Inc. reduces its investment in Kraft Heinz Co. (KHC)

Armbruster Capital Management Inc. lowered its position in Kraft Heinz Co. (NASDAQ:KHC) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,609 shares of the company’s stock after selling 23 shares during the period. Armbruster Capital Management Inc.’s holdings in Kraft Heinz were worth $142,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Enterprise Financial Services Corp boosted its position in 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. Iowa State Bank bought a new position in Kraft Heinz during the second quarter worth $129,000. Quadrant Capital Group LLC boosted its position in Kraft Heinz by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 1,637 shares of the company’s stock worth $135,000 after buying an additional 94 shares during the last quarter. Vigilant Capital Management LLC boosted its position in Kraft Heinz by 7.1% in the second quarter. Vigilant Capital Management LLC now owns 1,756 shares of the company’s stock worth $155,000 after buying an additional 116 shares during the last quarter. Finally, Sadoff Investment Management LLC bought a new position in Kraft Heinz during the second quarter worth $201,000. 61.39% of the stock is owned by hedge funds and other institutional investors.

Shares of Kraft Heinz Co. (NASDAQ:KHC) traded up 0.34% during midday trading on Monday, reaching $88.83. 2,192,227 shares of the company traded hands. Kraft Heinz Co. has a 12 month low of $68.18 and a 12 month high of $90.54. The company has a 50 day moving average of $88.39 and a 200 day moving average of $85.40. The firm has a market capitalization of $108.16 billion, a P/E ratio of 65.12 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.14. The business earned $6.79 billion during the quarter, compared to the consensus estimate of $4.70 billion. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The business’s quarterly revenue was up 159.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, equities research analysts predict that Kraft Heinz Co. will post $3.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, August 26th were paid a $0.60 dividend. The ex-dividend date was Wednesday, August 24th. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 2.70%. Kraft Heinz’s dividend payout ratio is 181.82%.

Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. RBC Capital Markets reissued an “outperform” rating and issued a $96.00 price target (up previously from $92.00) on shares of Kraft Heinz in a research report on Friday, August 5th. Stifel Nicolaus raised their price target on shares of Kraft Heinz from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Vetr cut shares of Kraft Heinz from a “hold” rating to a “sell” rating and set a $82.91 price target for the company. in a research report on Wednesday, June 29th. Finally, Deutsche Bank AG raised shares of Kraft Heinz from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $103.00 in a research report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $99.17.

In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the stock in a transaction on Tuesday, September 20th. The shares were 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. 26.92% of the stock is currently owned by insiders.

About Kraft Heinz

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.

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