Redwood Investments LLC Acquires New Position in Kraft Heinz Co. (KHC)
Redwood Investments LLC acquired a new stake in shares of Kraft Heinz Co. (NASDAQ:KHC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 166,354 shares of the company’s stock, valued at approximately $14,719,000.
A number of other institutional investors also recently modified their holdings of KHC. Advisory Services Network LLC increased its position in shares of Kraft Heinz by 2.3% in the second quarter. Advisory Services Network LLC now owns 4,662 shares of the company’s stock valued at $413,000 after buying an additional 104 shares during the last quarter. Private Wealth Partners LLC bought a new position in shares of Kraft Heinz during the second quarter valued at approximately $206,000. Insight Capital Research & Management Inc. bought a new position in shares of Kraft Heinz during the second quarter valued at approximately $3,517,000. First National Trust Co. increased its position in shares of Kraft Heinz by 2.6% in the second quarter. First National Trust Co. now owns 3,893 shares of the company’s stock valued at $344,000 after buying an additional 100 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in shares of Kraft Heinz by 2.6% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,669 shares of the company’s stock valued at $1,740,000 after buying an additional 505 shares during the last quarter. 61.30% of the stock is owned by institutional investors and hedge funds.
Kraft Heinz Co. (NASDAQ:KHC) traded down 0.48% during midday trading on Monday, reaching $89.08. 1,857,873 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $88.85 and a 200 day moving average price of $84.71. Kraft Heinz Co. has a 12-month low of $68.18 and a 12-month high of $90.54. The company has a market cap of $108.47 billion, a price-to-earnings ratio of 65.31 and a beta of 0.47.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.14. The firm earned $6.79 billion during 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 business’s quarterly revenue was up 159.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS. On average, analysts expect that Kraft Heinz Co. will post $3.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, August 26th will be issued a dividend of $0.60 per share. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Wednesday, August 24th. Kraft Heinz’s dividend payout ratio is currently 181.82%.
Several brokerages recently commented on KHC. Argus increased their price objective on shares of Kraft Heinz from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, September 28th. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price target on shares of Kraft Heinz in a research report on Tuesday, September 27th. Vetr cut shares of Kraft Heinz from a “strong-buy” rating to a “buy” rating and set a $98.22 price target for the company. in a research report on Monday, September 19th. Sanford C. Bernstein set a $110.00 price target on shares of Kraft Heinz and gave the company a “buy” rating in a research report on Monday, September 12th. Finally, Morgan Stanley decreased their price target on shares of Kraft Heinz from $100.00 to $97.00 and set an “overweight” rating for the company in a research report on Wednesday, August 31st. Two investment analysts have rated the stock with a sell rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $99.17.
In related news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the company’s 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 26.92% of the company’s stock.
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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