The Kraft Heinz Company (KHC) Shares Bought by Steinberg Global Asset Management
Steinberg Global Asset Management raised its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,082 shares of the company’s stock after buying an additional 793 shares during the period. Steinberg Global Asset Management’s holdings in The Kraft Heinz were worth $7,201,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Tiedemann Wealth Management LLC increased its position in shares of The Kraft Heinz by 6.4% in the first quarter. Tiedemann Wealth Management LLC now owns 47,256 shares of the company’s stock worth $4,291,000 after buying an additional 2,861 shares in the last quarter. Cape Cod Five Cents Savings Bank increased its position in 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 period. Pillar Pacific Capital Management LLC increased its position in 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 period. Kwmg LLC purchased a new position in The Kraft Heinz during the first quarter worth $261,000. Finally, K2 Principal Fund L.P. increased its position in The Kraft Heinz by 338.8% in the first quarter. K2 Principal Fund L.P. now owns 14,507 shares of the company’s stock worth $1,317,000 after buying an additional 11,201 shares during the period. Institutional investors own 61.91% of the company’s stock.
Shares of The Kraft Heinz Company (NASDAQ KHC) opened at 81.93 on Thursday. The stock has a 50 day moving average price of $85.74 and a 200-day moving average price of $89.47. The Kraft Heinz Company has a 12 month low of $79.69 and a 12 month high of $97.77. The company has a market capitalization of $99.81 billion, a PE ratio of 26.26 and a beta of 0.44.
The Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.73 billion. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. Analysts forecast that The Kraft Heinz Company will post $3.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Wednesday, August 16th. 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%.
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A number of research analysts have weighed in on KHC shares. Consumer Edge upgraded The Kraft Heinz to an “overweight” rating in a report on Thursday, May 4th. Piper Jaffray Companies started coverage on The Kraft Heinz in a report on Wednesday, May 24th. They set a “neutral” rating and a $94.00 target price on the stock. Royal Bank Of Canada set a $96.00 target price on The Kraft Heinz and gave the stock a “buy” rating in a report on Saturday, June 3rd. Berenberg Bank started coverage on The Kraft Heinz in a report on Wednesday, June 7th. They set a “buy” rating and a $102.00 target price on the stock. Finally, Susquehanna Bancshares Inc set a $99.00 target price on The Kraft Heinz and gave the stock a “hold” rating in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The Kraft Heinz currently has an average rating of “Buy” and an average target price 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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