Lourd Capital LLC Takes $527,000 Position in Kraft Heinz Co (KHC)

Lourd Capital LLC acquired a new stake in Kraft Heinz Co (NASDAQ:KHC) in the 3rd quarter, Holdings Channel reports. The fund acquired 9,571 shares of the company’s stock, valued at approximately $527,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tredje AP fonden raised its holdings in shares of Kraft Heinz by 69.9% during the 2nd quarter. Tredje AP fonden now owns 128,756 shares of the company’s stock worth $8,088,000 after buying an additional 52,959 shares in the last quarter. Strategic Advisors LLC raised its holdings in shares of Kraft Heinz by 38.8% during the 2nd quarter. Strategic Advisors LLC now owns 24,710 shares of the company’s stock worth $1,552,000 after buying an additional 6,908 shares in the last quarter. Loudon Investment Management LLC acquired a new position in shares of Kraft Heinz during the 2nd quarter worth $2,713,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Kraft Heinz by 4.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,208,820 shares of the company’s stock worth $138,759,000 after buying an additional 94,749 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Kraft Heinz during the 2nd quarter worth $389,000. 62.82% of the stock is owned by hedge funds and other institutional investors.

In related news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $59.85, for a total transaction of $1,234,724,292.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Eduardo Pelleissone sold 35,000 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $63.85, for a total value of $2,234,750.00. The disclosure for this sale can be found here. Insiders own 26.81% of the company’s stock.

NASDAQ KHC opened at $55.74 on Thursday. Kraft Heinz Co has a 12 month low of $54.11 and a 12 month high of $82.48. The stock has a market capitalization of $67.19 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 1.88 and a beta of 0.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.70 and a current ratio of 1.05.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Friday, August 3rd. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.08. Kraft Heinz had a return on equity of 6.16% and a net margin of 40.85%. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The business’s revenue was up .7% on a year-over-year basis. Equities research analysts expect that Kraft Heinz Co will post 3.71 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 17th were given a $0.625 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.49%. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.42%.

A number of equities analysts have issued reports on the company. BidaskClub raised Kraft Heinz from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Zacks Investment Research cut Kraft Heinz from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Bank of America set a $85.00 target price on Kraft Heinz and gave the stock a “buy” rating in a report on Monday, August 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Kraft Heinz in a report on Tuesday, August 7th. Finally, Morgan Stanley assumed coverage on Kraft Heinz in a report on Monday, September 17th. They issued an “underweight” rating and a $52.00 target price for the company. Four analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $72.02.

About Kraft Heinz

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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