Highlander Capital Management LLC lifted its stake in Kraft Heinz Co (NASDAQ:KHC) by 27.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,668 shares of the company’s stock after purchasing an additional 1,445 shares during the period. Highlander Capital Management LLC’s holdings in Kraft Heinz were worth $400,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. We Are One Seven LLC acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at approximately $107,000. Princeton Capital Management LLC acquired a new stake in shares of Kraft Heinz in the first quarter valued at approximately $112,000. Rational Advisors LLC acquired a new stake in Kraft Heinz during the 4th quarter worth $117,000. Rainier Group Investment Advisory LLC acquired a new stake in Kraft Heinz during the 1st quarter worth $118,000. Finally, Truewealth LLC acquired a new stake in Kraft Heinz during the 4th quarter worth $143,000. 62.31% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on KHC shares. Credit Suisse Group lowered shares of Kraft Heinz from an “outperform” rating to a “sell” rating and lifted their target price for the stock from $77.00 to $90.00 in a report on Monday, April 16th. Societe Generale started coverage on shares of Kraft Heinz in a report on Thursday, March 15th. They set a “sell” rating for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $81.00 target price (down previously from $87.00) on shares of Kraft Heinz in a report on Tuesday, February 20th. Morgan Stanley set a $73.00 target price on shares of Kraft Heinz and gave the stock a “buy” rating in a report on Wednesday, April 18th. Finally, Barclays reaffirmed a “buy” rating and set a $80.00 target price (down previously from $94.00) on shares of Kraft Heinz in a report on Sunday, February 18th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Kraft Heinz has an average rating of “Hold” and a consensus price target of $77.85.
In related news, Director Mackey J. Mcdonald acquired 669 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The shares were acquired at an average cost of $60.27 per share, with a total value of $40,320.63. Following the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $1,053,881.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 26.81% of the company’s stock.
Shares of NASDAQ KHC traded up $0.45 during midday trading on Thursday, reaching $60.55. 336,933 shares of the stock were exchanged, compared to its average volume of 5,294,889. The stock has a market cap of $73.00 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 1.89 and a beta of 0.60. Kraft Heinz Co has a 12 month low of $54.11 and a 12 month high of $92.45. The company has a quick ratio of 0.42, a current ratio of 0.72 and a debt-to-equity ratio of 0.43.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, May 2nd. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The company had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $6.32 billion. Kraft Heinz had a net margin of 42.41% and a return on equity of 7.06%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. research analysts anticipate that Kraft Heinz Co will post 3.8 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, May 18th will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, May 17th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.13%. Kraft Heinz’s dividend payout ratio is 70.42%.
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.
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