Lido Advisors LLC Takes Position in Kraft Heinz Co (KHC)
Lido Advisors LLC purchased a new stake in shares of Kraft Heinz Co (NASDAQ:KHC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,861 shares of the company’s stock, valued at approximately $295,000.
Several other hedge funds have also recently made changes to their positions in the company. Clifford Swan Investment Counsel LLC increased its holdings in Kraft Heinz by 0.7% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 33,710 shares of the company’s stock worth $1,451,000 after purchasing an additional 225 shares in the last quarter. North Star Investment Management Corp. increased its holdings in Kraft Heinz by 0.4% in the fourth quarter. North Star Investment Management Corp. now owns 60,799 shares of the company’s stock worth $2,617,000 after purchasing an additional 237 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in Kraft Heinz by 4.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,511 shares of the company’s stock worth $237,000 after purchasing an additional 239 shares in the last quarter. OLD Second National Bank of Aurora increased its holdings in Kraft Heinz by 7.5% in the fourth quarter. OLD Second National Bank of Aurora now owns 3,577 shares of the company’s stock worth $154,000 after purchasing an additional 250 shares in the last quarter. Finally, Delta Asset Management LLC TN increased its holdings in Kraft Heinz by 3.5% in the fourth quarter. Delta Asset Management LLC TN now owns 7,466 shares of the company’s stock worth $320,000 after purchasing an additional 250 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on KHC. Barclays downgraded Kraft Heinz from an “overweight” rating to an “equal weight” rating in a report on Friday, February 22nd. Standpoint Research began coverage on Kraft Heinz in a report on Wednesday, December 26th. They set a “buy” rating for the company. Deutsche Bank downgraded Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the company from $58.00 to $52.00 in a report on Tuesday, February 5th. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Finally, Credit Suisse Group set a $33.00 price objective on Kraft Heinz and gave the company an “underperform” rating in a report on Friday, February 22nd. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $45.35.
Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, February 21st. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.10). The company had revenue of $6.89 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Kraft Heinz had a negative net margin of 38.95% and a positive return on equity of 6.89%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. As a group, research analysts predict that Kraft Heinz Co will post 2.94 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 4.99%. Kraft Heinz’s payout ratio is 45.33%.
About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
Further Reading: SEC Filing
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