SeaTown Holdings Pte. Ltd. Acquires New Position in Kraft Heinz Co (NASDAQ:KHC)
SeaTown Holdings Pte. Ltd. acquired a new stake in shares of Kraft Heinz Co (NASDAQ:KHC) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 170,000 shares of the company’s stock, valued at approximately $5,277,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in KHC. Geode Capital Management LLC lifted its position in shares of Kraft Heinz by 12.7% during the 4th quarter. Geode Capital Management LLC now owns 8,516,204 shares of the company’s stock worth $366,004,000 after buying an additional 957,359 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Kraft Heinz in the fourth quarter worth $237,000. Calamos Advisors LLC lifted its stake in Kraft Heinz by 1.0% in the first quarter. Calamos Advisors LLC now owns 99,290 shares of the company’s stock worth $3,242,000 after purchasing an additional 940 shares during the last quarter. Truvestments Capital LLC bought a new stake in Kraft Heinz in the first quarter worth $61,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in Kraft Heinz by 13.5% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 21,809 shares of the company’s stock worth $712,000 after purchasing an additional 2,595 shares during the last quarter. Institutional investors own 58.06% of the company’s stock.
KHC stock traded down $0.31 during trading on Tuesday, hitting $25.98. The stock had a trading volume of 13,613,470 shares, compared to its average volume of 9,471,393. The company has a 50 day moving average price of $30.77. Kraft Heinz Co has a 1-year low of $25.74 and a 1-year high of $61.68. The company has a market capitalization of $32.33 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 2.64 and a beta of 0.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.21.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.16%. The ex-dividend date is Tuesday, August 20th. Kraft Heinz’s dividend payout ratio is currently 45.33%.
KHC has been the subject of several recent research reports. Credit Suisse Group set a $26.00 price target on shares of Kraft Heinz and gave the stock a “sell” rating in a research note on Friday. Wells Fargo & Co set a $29.00 price target on shares of Kraft Heinz and gave the stock a “hold” rating in a research note on Friday. BidaskClub downgraded shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Tuesday. Bank of America set a $32.00 price target on shares of Kraft Heinz and gave the stock a “neutral” rating in a research note on Friday. Finally, Barclays set a $30.00 price target on shares of Kraft Heinz and gave the stock a “hold” rating in a research note on Friday. Six research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Kraft Heinz has an average rating of “Hold” and an average target price of $36.45.
Kraft Heinz Company Profile
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: Return on Equity (ROE)
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