Kanawha Capital Management LLC raised its stake in Kraft Heinz Co. (NASDAQ:KHC) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,826 shares of the company’s stock after buying an additional 7 shares during the period. Kanawha Capital Management LLC’s holdings in Kraft Heinz were worth $516,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Enterprise Financial Services Corp raised its position 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 valued at $113,000 after buying an additional 100 shares during the period. Iowa State Bank acquired a new position in shares of Kraft Heinz during the second quarter valued at approximately $129,000. Quadrant Capital Group LLC raised its position in shares of Kraft Heinz by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 1,637 shares of the company’s stock valued at $135,000 after buying an additional 94 shares during the period. Vigilant Capital Management LLC raised its position in shares of Kraft Heinz by 7.1% in the second quarter. Vigilant Capital Management LLC now owns 1,756 shares of the company’s stock valued at $155,000 after buying an additional 116 shares during the period. Finally, Sadoff Investment Management LLC acquired a new position in shares of Kraft Heinz during the second quarter valued at approximately $201,000. Institutional investors own 61.39% of the company’s stock.
Kraft Heinz Co. (NASDAQ:KHC) traded up 0.92% during trading on Tuesday, hitting $89.65. 1,461,315 shares of the stock were exchanged. The stock has a market capitalization of $109.16 billion, a price-to-earnings ratio of 65.73 and a beta of 0.47. The firm has a 50-day moving average of $88.41 and a 200-day moving average of $85.57. Kraft Heinz Co. has a 52 week low of $68.18 and a 52 week high of $90.54.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.14. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $4.70 billion. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The firm’s revenue for the quarter was up 159.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Equities research analysts anticipate that Kraft Heinz Co. will post $3.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, August 26th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Wednesday, August 24th. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s payout ratio is currently 181.82%.
Several brokerages have recently commented on KHC. Vetr upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating and set a $87.68 price target on the stock in a research note on Monday, July 4th. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “buy” rating and set a $99.00 price target on the stock in a research note on Monday, August 8th. Goldman Sachs Group Inc. restated a “conviction-buy” rating and set a $98.00 price target (up previously from $93.00) on shares of Kraft Heinz in a research note on Friday, July 15th. Royal Bank Of Canada upped their price objective on shares of Kraft Heinz from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and set a $100.00 price objective (up from $98.00) on shares of Kraft Heinz in a report on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $99.17.
In other news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. 26.92% of the stock is currently owned by 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.