Pitcairn Co. acquired a new position 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 firm acquired 7,232 shares of the company’s stock, valued at approximately $231,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. TRUE Private Wealth Advisors raised its stake in shares of Kraft Heinz by 16.2% in the second quarter. TRUE Private Wealth Advisors now owns 2,411 shares of the company’s stock worth $77,000 after buying an additional 336 shares during the period. Horizon Bancorp Inc. IN raised its stake in Kraft Heinz by 38.4% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,246 shares of the company’s stock valued at $31,000 after purchasing an additional 346 shares during the period. IBM Retirement Fund raised its stake in Kraft Heinz by 2.2% during the 2nd quarter. IBM Retirement Fund now owns 16,407 shares of the company’s stock valued at $523,000 after purchasing an additional 350 shares during the period. Lipe & Dalton raised its stake in Kraft Heinz by 1.2% during the 1st quarter. Lipe & Dalton now owns 29,609 shares of the company’s stock valued at $733,000 after purchasing an additional 355 shares during the period. Finally, NEXT Financial Group Inc raised its stake in Kraft Heinz by 2.0% during the 1st quarter. NEXT Financial Group Inc now owns 17,982 shares of the company’s stock valued at $445,000 after purchasing an additional 359 shares during the period. 57.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kraft Heinz stock opened at $34.38 on Friday. The stock has a market cap of $42.01 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 2.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.09. The stock has a 50 day moving average price of $32.93 and a 200-day moving average price of $29.36. Kraft Heinz Co has a one year low of $19.99 and a one year high of $35.87.
Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, July 30th. The company reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.15. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Kraft Heinz had a positive return on equity of 6.68% and a negative net margin of 0.76%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. Sell-side analysts predict that Kraft Heinz Co will post 2.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, August 28th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Thursday, August 27th. Kraft Heinz’s payout ratio is currently 56.14%.
KHC has been the topic of several recent analyst reports. BidaskClub raised Kraft Heinz from a “hold” rating to a “buy” rating in a research note on Thursday, July 16th. Goldman Sachs Group downgraded Kraft Heinz from a “neutral” rating to a “sell” rating and decreased their target price for the company from $32.00 to $30.00 in a research note on Monday, June 22nd. TheStreet downgraded Kraft Heinz from a “c” rating to a “d+” rating in a research note on Thursday. Credit Suisse Group lifted their price objective on Kraft Heinz from $26.00 to $29.00 and gave the stock an “underperform” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Kraft Heinz from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $32.95.
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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