Bainco International Investors Sells 10,193 Shares of The Kraft Heinz Company (KHC)
Bainco International Investors cut its position in The Kraft Heinz Company (NASDAQ:KHC) by 8.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,399 shares of the company’s stock after selling 10,193 shares during the period. The Kraft Heinz makes up approximately 1.4% of Bainco International Investors’ portfolio, making the stock its 21st largest position. Bainco International Investors’ holdings in The Kraft Heinz were worth $9,935,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Rockefeller Financial Services Inc. increased its position in shares of The Kraft Heinz by 240.2% in the first quarter. Rockefeller Financial Services Inc. now owns 1,133 shares of the company’s stock worth $103,000 after buying an additional 800 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in shares of The Kraft Heinz during the first quarter worth about $109,000. Blue Chip Partners Inc. increased its position in shares of The Kraft Heinz by 0.5% in the first quarter. Blue Chip Partners Inc. now owns 1,476 shares of the company’s stock worth $134,000 after buying an additional 8 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of The Kraft Heinz during the first quarter worth about $136,000. Finally, Enterprise Financial Services Corp increased its position in shares of The Kraft Heinz by 11.8% in the first quarter. Enterprise Financial Services Corp now owns 1,521 shares of the company’s stock worth $138,000 after buying an additional 160 shares during the last quarter. 61.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Kraft Heinz Company (NASDAQ:KHC) traded down 1.3704% during mid-day trading on Thursday, reaching $80.8072. The company’s stock had a trading volume of 2,095,698 shares. The Kraft Heinz Company has a 12-month low of $79.69 and a 12-month high of $97.77. The firm has a market cap of $98.44 billion, a P/E ratio of 25.8997 and a beta of 0.44. The firm’s 50-day moving average price is $85.74 and its 200 day moving average price is $89.47.
The Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.02. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The firm had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same quarter last year, the company posted $0.85 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. On average, analysts expect that The Kraft Heinz Company will post $3.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.05%. This is a positive change from The Kraft Heinz’s previous quarterly dividend of $0.60. The Kraft Heinz’s dividend payout ratio (DPR) is currently 79.87%.
A number of research analysts have recently issued reports on the company. BidaskClub downgraded The Kraft Heinz from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Zacks Investment Research raised The Kraft Heinz from a “sell” rating to a “hold” rating in a report on Monday, August 21st. Piper Jaffray Companies set a $92.00 price target on The Kraft Heinz and gave the company a “hold” rating in a report on Wednesday, August 16th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $85.00 price target (down from $94.00) on shares of The Kraft Heinz in a report on Wednesday, August 9th. Finally, Berenberg Bank set a $102.00 price target on The Kraft Heinz and gave the company a “buy” rating in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. The Kraft Heinz has an average rating of “Buy” and an average price target of $97.31.
The 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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