Greylin Investment Mangement Inc. reduced its stake in Kraft Heinz Co (NASDAQ:KHC) by 21.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 433,687 shares of the company’s stock after selling 121,463 shares during the period. Kraft Heinz makes up 2.9% of Greylin Investment Mangement Inc.’s investment portfolio, making the stock its 10th largest position. Greylin Investment Mangement Inc.’s holdings in Kraft Heinz were worth $12,115,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Nuveen Asset Management LLC acquired a new stake in shares of Kraft Heinz in the second quarter valued at approximately $81,466,000. BlackRock Inc. boosted its holdings in shares of Kraft Heinz by 5.1% in the second quarter. BlackRock Inc. now owns 38,743,271 shares of the company’s stock valued at $1,202,590,000 after acquiring an additional 1,884,480 shares during the period. Marshall Wace LLP acquired a new stake in shares of Kraft Heinz in the second quarter valued at approximately $36,909,000. Balyasny Asset Management LLC acquired a new stake in shares of Kraft Heinz in the second quarter valued at approximately $35,839,000. Finally, Marshall Wace North America L.P. boosted its holdings in shares of Kraft Heinz by 2,391.8% in the second quarter. Marshall Wace North America L.P. now owns 1,095,763 shares of the company’s stock valued at $34,012,000 after acquiring an additional 1,051,788 shares during the period. Institutional investors own 56.46% of the company’s stock.
KHC has been the subject of several research analyst reports. Piper Jaffray Companies set a $26.00 price objective on Kraft Heinz and gave the company a “hold” rating in a report on Wednesday, September 4th. BidaskClub raised Kraft Heinz from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Guggenheim set a $25.00 price objective on Kraft Heinz and gave the company a “sell” rating in a report on Monday, August 26th. Credit Suisse Group set a $26.00 price objective on Kraft Heinz and gave the company a “sell” rating in a report on Friday, August 9th. Finally, BMO Capital Markets decreased their price objective on 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 given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $36.05.
Shares of NASDAQ KHC traded up $0.30 during mid-day trading on Friday, hitting $27.25. 6,254,499 shares of the company were exchanged, compared to its average volume of 7,531,829. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $27.10 and a 200-day simple moving average of $30.06. Kraft Heinz Co has a 1-year low of $24.86 and a 1-year high of $58.08. The firm has a market cap of $32.59 billion, a price-to-earnings ratio of 7.72, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. Kraft Heinz had a positive return on equity of 6.06% and a negative net margin of 43.40%. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.07 billion. During the same period last year, the company earned $0.90 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts anticipate that Kraft Heinz Co will post 2.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.87%. The ex-dividend date was Tuesday, August 20th. Kraft Heinz’s payout ratio is 45.33%.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.44, for a total value of $712,952,605.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorge P. Lemann acquired 3,496,503 shares of the business’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 transaction, the director now directly owns 3,516,449 shares of the company’s stock, valued at approximately $100,570,441.40. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.
Kraft Heinz Profile
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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