WestEnd Advisors LLC Buys New Stake in Kraft Heinz Co. (KHC)
WestEnd Advisors LLC acquired a new position in Kraft Heinz Co. (NASDAQ:KHC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,100,048 shares of the company’s stock, valued at approximately $97,332,000. Kraft Heinz accounts for approximately 5.2% of WestEnd Advisors LLC’s holdings, making the stock its largest position. WestEnd Advisors LLC owned 0.09% of Kraft Heinz as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Credit Agricole S A increased its position in Kraft Heinz by 2.7% in the first quarter. Credit Agricole S A now owns 373,757 shares of the company’s stock worth $29,363,000 after buying an additional 9,704 shares in the last quarter. Willis Investment Counsel increased its stake in shares of Kraft Heinz by 1.4% in the first quarter. Willis Investment Counsel now owns 49,242 shares of the company’s stock valued at $3,868,000 after buying an additional 672 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Kraft Heinz by 9.6% in the first quarter. Canada Pension Plan Investment Board now owns 919,036 shares of the company’s stock valued at $72,199,000 after buying an additional 80,700 shares during the period. Gardner Russo & Gardner LLC purchased a new stake in shares of Kraft Heinz during the first quarter valued at about $1,646,000. Finally, Pegasus Partners Ltd. increased its stake in shares of Kraft Heinz by 1.0% in the first quarter. Pegasus Partners Ltd. now owns 16,961 shares of the company’s stock valued at $1,332,000 after buying an additional 165 shares during the period. Institutional investors own 61.39% of the company’s stock.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded down 0.96% on Wednesday, reaching $88.08. 2,720,953 shares of the company were exchanged. The firm has a 50 day moving average price of $88.42 and a 200-day moving average price of $85.64. Kraft Heinz Co. has a 12-month low of $68.18 and a 12-month high of $90.54. The stock has a market capitalization of $107.25 billion, a PE ratio of 64.57 and a beta of 0.47.
Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.14. The firm 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 company’s quarterly revenue was up 159.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. On average, analysts predict that Kraft Heinz Co. will post $3.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 7th. Shareholders of record on Friday, August 26th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.72%. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, August 24th. Kraft Heinz’s payout ratio is presently 181.82%.
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. restated a “focus list” rating on shares of Kraft Heinz in a research report on Tuesday, October 4th. Sanford C. Bernstein set a $110.00 price objective on shares of Kraft Heinz and gave the stock a “buy” rating in a research report on Monday, September 12th. Vetr upgraded shares of Kraft Heinz from a “buy” rating to a “strong-buy” rating and set a $98.22 price objective for the company in a research report on Thursday, October 6th. Susquehanna cut their price objective on shares of Kraft Heinz from $118.00 to $114.00 and set a “positive” rating for the company in a research report on Friday, August 26th. Finally, Morgan Stanley cut their price objective 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 research analysts have rated the stock with a sell rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $99.17.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $87.05, for a total value of $244,468,695.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 26.92% of the stock is currently owned by company insiders.
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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