Kraft Heinz Co (KHC) Position Boosted by Virtu Financial LLC
Virtu Financial LLC raised its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 47.0% in the fourth quarter, HoldingsChannel reports. The firm owned 27,268 shares of the company’s stock after buying an additional 8,716 shares during the period. Virtu Financial LLC’s holdings in Kraft Heinz were worth $2,120,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. boosted its stake in Kraft Heinz by 16.6% during the 2nd quarter. Westside Investment Management Inc. now owns 1,209 shares of the company’s stock valued at $100,000 after purchasing an additional 172 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Kraft Heinz during the 2nd quarter valued at $121,000. Rational Advisors LLC bought a new position in Kraft Heinz during the 4th quarter valued at $117,000. Cerebellum GP LLC acquired a new stake in shares of Kraft Heinz during the 4th quarter valued at $124,000. Finally, GWM Advisors LLC acquired a new stake in shares of Kraft Heinz during the 2nd quarter valued at $137,000. 62.49% of the stock is owned by hedge funds and other institutional investors.
KHC has been the subject of a number of recent research reports. BidaskClub upgraded Kraft Heinz from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 26th. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Citigroup cut their price objective on Kraft Heinz from $90.00 to $82.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Credit Suisse Group reiterated an “outperform” rating and set a $90.00 price objective (down previously from $100.00) on shares of Kraft Heinz in a research report on Thursday, November 2nd. Finally, Susquehanna Bancshares cut their price objective on Kraft Heinz from $83.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $91.19.
Kraft Heinz (NASDAQ:KHC) last released its earnings results on Friday, February 16th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.06). The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.91 billion. Kraft Heinz had a net margin of 41.93% and a return on equity of 7.20%. Kraft Heinz’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 EPS. sell-side analysts expect that Kraft Heinz Co will post 3.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.53%. Kraft Heinz’s payout ratio is currently 27.90%.
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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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