National Asset Management Inc. Increases Holdings in The Kraft Heinz Company (KHC)
National Asset Management Inc. raised its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 8.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,860 shares of the company’s stock after purchasing an additional 383 shares during the period. National Asset Management Inc.’s holdings in The Kraft Heinz were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in KHC. BlackRock Inc. grew its holdings in The Kraft Heinz by 2,314.8% during the first quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock valued at $2,956,129,000 after purchasing an additional 31,204,852 shares during the period. 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 acquiring an additional 2,988,664 shares in the last quarter. FMR LLC lifted its position in shares of The Kraft Heinz by 30.0% during the second quarter. FMR LLC now owns 11,516,822 shares of the company’s stock worth $986,301,000 after acquiring an additional 2,659,846 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 acquiring an additional 1,585,231 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of The Kraft Heinz during the second quarter worth $102,151,000. 61.59% of the stock is owned by institutional investors and hedge funds.
Shares of The Kraft Heinz Company (NASDAQ KHC) opened at $79.85 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.77 and a quick ratio of 0.43. The Kraft Heinz Company has a 12-month low of $75.21 and a 12-month high of $97.77. The stock has a market capitalization of $97,136.27, a price-to-earnings ratio of 22.39, a P/E/G ratio of 2.21 and a beta of 0.43.
The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.83. The Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter last year, the business posted $0.83 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. analysts expect that The Kraft Heinz Company will post 3.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.50 dividend on an annualized basis and a yield of 3.13%. The Kraft Heinz’s payout ratio is 77.88%.
Several equities research analysts have issued reports on KHC shares. UBS AG restated a “buy” rating and set a $89.00 target price (down previously from $97.00) on shares of The Kraft Heinz in a research report on Friday, October 13th. Credit Suisse Group set a $100.00 target price on The Kraft Heinz and gave the stock a “buy” rating in a research report on Sunday, September 10th. BidaskClub upgraded The Kraft Heinz from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Piper Jaffray Companies upgraded The Kraft Heinz from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $92.00 to $90.00 in a research report on Friday, October 6th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $95.00 target price on shares of The Kraft Heinz in a research report on Tuesday, October 3rd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $92.49.
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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