Ossiam purchased a new stake in Kraft Heinz Co (NASDAQ:KHC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,014 shares of the company’s stock, valued at approximately $31,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Magellan Asset Management Ltd lifted its stake in shares of Kraft Heinz by 12.2% during the first quarter. Magellan Asset Management Ltd now owns 37,093,237 shares of the company’s stock valued at $1,211,094,000 after buying an additional 4,046,115 shares during the period. RWWM Inc. increased its position in Kraft Heinz by 435.8% during the second quarter. RWWM Inc. now owns 1,243,405 shares of the company’s stock worth $38,634,000 after purchasing an additional 1,011,360 shares during the last quarter. Geode Capital Management LLC increased its position in Kraft Heinz by 12.7% during the fourth quarter. Geode Capital Management LLC now owns 8,516,204 shares of the company’s stock worth $366,004,000 after purchasing an additional 957,359 shares during the last quarter. Apertura Capital LLC increased its position in Kraft Heinz by 357.1% during the first quarter. Apertura Capital LLC now owns 800,000 shares of the company’s stock worth $26,120,000 after purchasing an additional 625,000 shares during the last quarter. Finally, CORDA Investment Management LLC. increased its position in Kraft Heinz by 179.5% during the second quarter. CORDA Investment Management LLC. now owns 939,404 shares of the company’s stock worth $29,159,000 after purchasing an additional 603,259 shares during the last quarter. 56.61% of the stock is currently owned by institutional investors.
KHC has been the subject of several research analyst 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 report on Friday, August 9th. Morgan Stanley dropped their price target on shares of Kraft Heinz from $32.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 3rd. Piper Jaffray Companies set a $26.00 price target on shares of Kraft Heinz and gave the stock a “hold” rating in a research report on Wednesday, September 4th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Kraft Heinz in a research report on Tuesday, September 3rd. Finally, BMO Capital Markets dropped their price target on shares of Kraft Heinz from $40.00 to $33.00 and set a “market perform” rating for the company in a research report on Monday, August 12th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $36.05.
Shares of Kraft Heinz stock traded up $0.22 during trading hours on Friday, hitting $29.25. The company’s stock had a trading volume of 4,880,879 shares, compared to its average volume of 7,295,291. Kraft Heinz Co has a 1-year low of $24.86 and a 1-year high of $59.36. The business has a fifty day moving average of $27.76 and a 200 day moving average of $30.70. The company has a market capitalization of $35.72 billion, a PE ratio of 8.29, a P/E/G ratio of 2.45 and a beta of 0.77. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.58.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.03. Kraft Heinz had a negative net margin of 43.40% and a positive return on equity of 6.06%. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.07 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Kraft Heinz Co will post 2.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.47%. The ex-dividend date was Tuesday, August 20th. Kraft Heinz’s payout ratio is currently 45.33%.
Kraft Heinz 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.
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