Truvestments Capital LLC boosted its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 30.3% during the third quarter, Holdings Channel.com reports. The fund owned 4,747 shares of the company’s stock after acquiring an additional 1,104 shares during the period. Truvestments Capital LLC’s holdings in Kraft Heinz were worth $133,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of KHC. Rockefeller Capital Management L.P. increased its stake in Kraft Heinz by 87.5% in the first quarter. Rockefeller Capital Management L.P. now owns 5,720 shares of the company’s stock valued at $187,000 after acquiring an additional 2,670 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Kraft Heinz by 1.0% during the first quarter. The Manufacturers Life Insurance Company now owns 635,070 shares of the company’s stock worth $20,735,000 after purchasing an additional 6,171 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Kraft Heinz by 22.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 654,151 shares of the company’s stock worth $21,358,000 after purchasing an additional 121,281 shares during the period. Wealthfront Advisers LLC boosted its holdings in shares of Kraft Heinz by 6.4% during the first quarter. Wealthfront Advisers LLC now owns 40,375 shares of the company’s stock worth $1,318,000 after purchasing an additional 2,432 shares during the period. Finally, Northeast Financial Consultants Inc purchased a new stake in shares of Kraft Heinz during the first quarter worth about $248,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.
Several analysts have commented on KHC shares. Wells Fargo & Co restated a “hold” rating on shares of Kraft Heinz in a report on Tuesday, September 3rd. Guggenheim set a $25.00 price objective on shares of Kraft Heinz and gave the stock a “sell” rating in a report on Monday, August 26th. Bank of America set a $32.00 price objective on shares of Kraft Heinz and gave the stock a “neutral” rating in a report on Friday, August 9th. Piper Jaffray Companies set a $26.00 price objective on shares of Kraft Heinz and gave the stock a “hold” rating in a report on Wednesday, September 4th. Finally, BMO Capital Markets lowered their price objective on shares of Kraft Heinz from $40.00 to $33.00 and set a “market perform” rating for the company in a report on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $36.05.
Shares of NASDAQ KHC traded up $0.15 on Friday, reaching $27.09. 1,451,466 shares of the company’s stock traded hands, compared to its average volume of 7,531,829. Kraft Heinz Co has a 12 month low of $24.86 and a 12 month high of $58.08. The business’s 50 day simple moving average is $27.10 and its two-hundred day simple moving average is $30.06. The company has a market cap of $32.59 billion, a price-to-earnings ratio of 7.67, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.58.
Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, August 8th. The company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. Kraft Heinz had a negative net margin of 43.40% and a positive return on equity of 6.06%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.07 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts forecast that Kraft Heinz Co will post 2.65 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend was Tuesday, August 20th. Kraft Heinz’s dividend payout ratio is 45.33%.
In other Kraft Heinz news, Director Jorge P. Lemann bought 3,496,503 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was acquired at an average price of $28.60 per share, with a total value of $99,999,985.80. Following the completion of the purchase, the director now owns 3,516,449 shares of the company’s stock, valued at $100,570,441.40. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.44, for a total transaction of $712,952,605.08. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.
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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