Gulf International Bank UK Ltd Continues to Hold Stake in Kraft Heinz Co. (KHC)
Gulf International Bank UK Ltd maintained its position in Kraft Heinz Co. (NASDAQ:KHC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,629 shares of the company’s stock at the end of the third quarter. Gulf International Bank UK Ltd’s holdings in Kraft Heinz were worth $16,347,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KHC. Enterprise Financial Services Corp increased its stake in Kraft Heinz by 8.5% in the second quarter. Enterprise Financial Services Corp now owns 1,280 shares of the company’s stock valued at $113,000 after buying an additional 100 shares during the last quarter. Blue Chip Partners Inc. bought a new stake in Kraft Heinz during the second quarter valued at $128,000. Iowa State Bank bought a new stake in Kraft Heinz during the second quarter valued at $129,000. West Oak Capital LLC increased its stake in Kraft Heinz by 6.9% in the third quarter. West Oak Capital LLC now owns 1,549 shares of the company’s stock valued at $139,000 after buying an additional 100 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Kraft Heinz by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 1,637 shares of the company’s stock valued at $135,000 after buying an additional 94 shares during the last quarter. 60.74% of the stock is owned by institutional investors and hedge funds.
Kraft Heinz Co. (NASDAQ:KHC) traded down 0.59% during trading on Wednesday, hitting $82.91. The stock had a trading volume of 1,018,088 shares. The firm has a market cap of $100.92 billion, a PE ratio of 36.49 and a beta of 0.48. Kraft Heinz Co. has a 52-week low of $68.18 and a 52-week high of $90.54. The company’s 50 day moving average is $85.84 and its 200 day moving average is $86.83.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.09. Kraft Heinz had a return on equity of 6.40% and a net margin of 10.44%. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the business posted $0.44 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts forecast that Kraft Heinz Co. will post $3.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be issued a $0.60 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $2.40 dividend on an annualized basis and a yield of 2.86%. Kraft Heinz’s dividend payout ratio is currently 105.26%.
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Several research firms recently weighed in on KHC. Vetr downgraded Kraft Heinz from a “strong-buy” rating to a “buy” rating and set a $88.44 price target on the stock. in a research note on Monday, November 21st. Zacks Investment Research downgraded Kraft Heinz from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. RBC Capital Markets restated an “outperform” rating and issued a $99.00 price target (up previously from $96.00) on shares of Kraft Heinz in a research note on Monday, November 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $96.00 price target (down previously from $99.00) on shares of Kraft Heinz in a research note on Monday, November 7th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Kraft Heinz in a research note on Friday, November 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $98.96.
In related news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total value of $244,468,695.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. 26.92% of the stock is owned by corporate 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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