Stanley Laman Group Ltd. Takes $2.53 Million Position in The Kraft Heinz Company (KHC)
Stanley Laman Group Ltd. purchased a new position in The Kraft Heinz Company (NASDAQ:KHC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 29,523 shares of the company’s stock, valued at approximately $2,528,000.
A number of other large investors have also modified their holdings of KHC. BlackRock Inc. increased its holdings 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 worth $2,956,129,000 after buying an additional 31,204,852 shares during the period. Morgan Stanley increased its holdings in The Kraft Heinz by 55.6% in the 1st quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock worth $759,605,000 after buying an additional 2,988,664 shares during the period. Vanguard Group Inc. increased its holdings in The Kraft Heinz by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock worth $3,827,601,000 after buying an additional 1,585,231 shares during the period. Thornburg Investment Management Inc. increased its holdings in The Kraft Heinz by 9,061.9% in the 1st quarter. Thornburg Investment Management Inc. now owns 1,145,240 shares of the company’s stock worth $103,999,000 after buying an additional 1,132,740 shares during the period. Finally, Pioneer Investment Management Inc. acquired a new position in The Kraft Heinz in the 2nd quarter worth approximately $79,757,000. Institutional investors own 61.80% of the company’s stock.
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Shares of The Kraft Heinz Company (NASDAQ KHC) opened at 78.25 on Friday. The stock’s 50 day moving average is $79.50 and its 200-day moving average is $79.50. The Kraft Heinz Company has a 52 week low of $76.76 and a 52 week high of $97.77. The firm has a market cap of $95.33 billion, a PE ratio of 25.08 and a beta of 0.44.
The Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ 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 revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. On average, equities analysts predict that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were issued a $0.625 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.19%. This is a positive change from The Kraft Heinz’s previous quarterly dividend of $0.60. The Kraft Heinz’s payout ratio is presently 79.87%.
KHC has been the topic of several research reports. Zacks Investment Research downgraded shares of The Kraft Heinz from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Susquehanna Bancshares Inc reiterated a “hold” rating on shares of The Kraft Heinz in a report on Tuesday, August 1st. BMO Capital Markets reiterated a “hold” rating and issued a $96.00 price target on shares of The Kraft Heinz in a report on Thursday, June 15th. BidaskClub downgraded shares of The Kraft Heinz from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Finally, Berenberg Bank set a $102.00 price target on shares of The Kraft Heinz and gave the stock a “buy” rating in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $96.53.
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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