Montag & Caldwell LLC Sells 58,228 Shares of Kraft Heinz Co. (KHC)
Montag & Caldwell LLC reduced its stake in Kraft Heinz Co. (NASDAQ:KHC) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,830,835 shares of the company’s stock after selling 58,228 shares during the period. Kraft Heinz accounts for approximately 3.3% of Montag & Caldwell LLC’s holdings, making the stock its 12th largest position. Montag & Caldwell LLC owned 0.15% of Kraft Heinz worth $161,992,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. SignalPoint Asset Management LLC acquired a new position in Kraft Heinz during the second quarter valued at $226,000. Savant Capital LLC raised its position in Kraft Heinz by 27.9% in the second quarter. Savant Capital LLC now owns 3,489 shares of the company’s stock valued at $309,000 after buying an additional 761 shares in the last quarter. Huntington National Bank raised its position in Kraft Heinz by 2.4% in the second quarter. Huntington National Bank now owns 25,826 shares of the company’s stock valued at $2,286,000 after buying an additional 593 shares in the last quarter. Redwood Investments LLC acquired a new position in Kraft Heinz during the second quarter valued at $14,719,000. Finally, Advisory Services Network LLC raised its position in 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 in the last quarter. Institutional investors and hedge funds own 61.30% of the company’s stock.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded down 1.41% during trading on Tuesday, reaching $87.82. The company’s stock had a trading volume of 1,414,162 shares. Kraft Heinz Co. has a 12 month low of $68.18 and a 12 month high of $90.54. The stock’s 50 day moving average price is $88.84 and its 200-day moving average price is $84.89. The firm has a market cap of $106.93 billion, a PE ratio of 64.38 and a beta of 0.47.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.14. The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Equities analysts predict that Kraft Heinz Co. will post $3.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, August 24th. This represents a $2.40 dividend on an annualized basis and a yield of 2.69%. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s dividend payout ratio is 181.82%.
KHC has been the topic of several recent analyst reports. Vetr lowered Kraft Heinz from a “strong-buy” rating to a “buy” rating and set a $98.22 target price on the stock. in a report on Monday, September 19th. Susquehanna dropped their price target on Kraft Heinz from $118.00 to $114.00 and set a “positive” rating on the stock in a research note on Friday, August 26th. Goldman Sachs Group Inc. reissued a “conviction-buy” rating and issued a $98.00 price target (up previously from $93.00) on shares of Kraft Heinz in a research note on Friday, July 15th. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $100.00 price target (up previously from $98.00) on shares of Kraft Heinz in a research note on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Kraft Heinz currently has a consensus rating of “Buy” and an average target price of $99.17.
In other Kraft Heinz 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 26.92% of the company’s stock.
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.
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