The Kraft Heinz Company (KHC) Position Raised by Tiedemann Wealth Management LLC
Tiedemann Wealth Management LLC increased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,256 shares of the company’s stock after buying an additional 2,861 shares during the period. Tiedemann Wealth Management LLC’s holdings in The Kraft Heinz were worth $4,291,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Gateway Investment Advisers LLC increased its stake in shares of The Kraft Heinz by 5.2% in the first quarter. Gateway Investment Advisers LLC now owns 378,339 shares of the company’s stock valued at $34,357,000 after buying an additional 18,748 shares in the last quarter. Wallace Capital Management Inc. boosted its position in shares of The Kraft Heinz by 0.7% in the fourth quarter. Wallace Capital Management Inc. now owns 14,871 shares of the company’s stock worth $1,299,000 after buying an additional 109 shares during the last quarter. Cape Cod Five Cents Savings Bank boosted its position in shares of The Kraft Heinz by 9.3% in the first quarter. Cape Cod Five Cents Savings Bank now owns 4,698 shares of the company’s stock worth $427,000 after buying an additional 399 shares during the last quarter. Ibex Wealth Advisors boosted its position in shares of The Kraft Heinz by 7.7% in the fourth quarter. Ibex Wealth Advisors now owns 16,947 shares of the company’s stock worth $1,507,000 after buying an additional 1,215 shares during the last quarter. Finally, Pillar Pacific Capital Management LLC boosted its position in shares of The Kraft Heinz by 7.6% in the first quarter. Pillar Pacific Capital Management LLC now owns 3,693 shares of the company’s stock worth $335,000 after buying an additional 262 shares during the last quarter. Hedge funds and other institutional investors own 61.93% of the company’s stock.
Shares of The Kraft Heinz Company (NASDAQ KHC) traded up 0.17% on Friday, reaching $86.66. The company had a trading volume of 7,942,255 shares. The stock’s 50 day moving average is $86.92 and its 200 day moving average is $89.90. The firm has a market capitalization of $105.52 billion, a price-to-earnings ratio of 30.84 and a beta of 0.44. The Kraft Heinz Company has a 52 week low of $79.69 and a 52 week high of $97.77.
The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The Kraft Heinz had a net margin of 13.12% and a return on equity of 7.25%. The firm had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period in the prior year, the business posted $0.85 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities analysts anticipate that The Kraft Heinz Company will post $3.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.625 per share. This is a positive change from The Kraft Heinz’s previous quarterly dividend of $0.60. This represents a $2.50 dividend on an annualized basis and a yield of 2.88%. The Kraft Heinz’s dividend payout ratio is 85.11%.
Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada set a $96.00 price target on The Kraft Heinz and gave the company a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research raised The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $99.00 price target (down previously from $102.00) on shares of The Kraft Heinz in a research note on Wednesday, June 28th. Consumer Edge raised The Kraft Heinz to an “overweight” rating in a research note on Thursday, May 4th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and set a $91.00 target price (down previously from $99.00) on shares of The Kraft Heinz in a research report on Monday, July 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. The Kraft Heinz presently has a consensus rating of “Buy” and an average target price of $97.96.
About The 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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