The Kraft Heinz Company (KHC) Shares Sold by Boston Private Wealth LLC
Boston Private Wealth LLC trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 6.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,123 shares of the company’s stock after selling 9,284 shares during the period. Boston Private Wealth LLC’s holdings in The Kraft Heinz were worth $10,973,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. increased its position in The Kraft Heinz by 2,314.8% in the 1st quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock valued at $2,956,129,000 after acquiring an additional 31,204,852 shares in the last quarter. Morgan Stanley lifted its position in shares of The Kraft Heinz by 55.6% during the first quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock worth $759,605,000 after purchasing an additional 2,988,664 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of The Kraft Heinz by 3.9% during the first quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock worth $3,827,601,000 after purchasing an additional 1,585,231 shares in the last quarter. Thornburg Investment Management Inc. lifted its position in shares of The Kraft Heinz by 9,061.9% during the first quarter. Thornburg Investment Management Inc. now owns 1,145,240 shares of the company’s stock worth $103,999,000 after purchasing an additional 1,132,740 shares in the last quarter. Finally, Pioneer Investment Management Inc. acquired a new position in shares of The Kraft Heinz during the second quarter worth approximately $79,757,000. 61.80% of the stock is owned by hedge funds and other institutional investors.
Shares of The Kraft Heinz Company (KHC) opened at 77.82 on Wednesday. The Kraft Heinz Company has a 52 week low of $76.89 and a 52 week high of $97.77. The company’s 50 day moving average price is $79.67 and its 200-day moving average price is $79.67. The firm has a market capitalization of $94.80 billion, a PE ratio of 24.94 and a beta of 0.44.
The Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $6.73 billion. During the same period last year, the company earned $0.85 earnings per share. The business’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts expect that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were issued a dividend of $0.625 per share. This is a boost from The Kraft Heinz’s previous quarterly dividend of $0.60. This represents a $2.50 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Wednesday, August 16th. The Kraft Heinz’s payout ratio is 79.87%.
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A number of analysts recently weighed in on KHC shares. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target on shares of The Kraft Heinz in a report on Thursday, September 21st. BidaskClub cut shares of The Kraft Heinz from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Credit Suisse Group set a $100.00 price objective on The Kraft Heinz and gave the stock a “buy” rating in a report on Sunday, September 10th. BMO Capital Markets reaffirmed a “hold” rating and set a $96.00 price objective on shares of The Kraft Heinz in a report on Wednesday, September 6th. Finally, Zacks Investment Research upgraded The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $97.28.
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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