Rehmann Capital Advisory Group Raises Position in Kraft Heinz Co (KHC)

Rehmann Capital Advisory Group increased its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 12.7% in the 3rd quarter, Holdings Channel reports. The firm owned 15,148 shares of the company’s stock after buying an additional 1,711 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Kraft Heinz were worth $835,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Integrated Investment Consultants LLC grew its stake in Kraft Heinz by 133.5% in the 2nd quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock worth $106,000 after acquiring an additional 965 shares during the period. Stevens First Principles Investment Advisors purchased a new stake in Kraft Heinz in the 2nd quarter worth approximately $108,000. Mainstay Capital Management LLC ADV grew its stake in Kraft Heinz by 5,429.3% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,414 shares of the company’s stock worth $108,000 after acquiring an additional 6,298 shares during the period. Blume Capital Management Inc. grew its stake in Kraft Heinz by 166.7% in the 3rd quarter. Blume Capital Management Inc. now owns 2,080 shares of the company’s stock worth $115,000 after acquiring an additional 1,300 shares during the period. Finally, CSat Investment Advisory L.P. purchased a new stake in Kraft Heinz in the 2nd quarter worth approximately $120,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Shares of NASDAQ KHC opened at $48.71 on Friday. Kraft Heinz Co has a 52-week low of $48.51 and a 52-week high of $80.67. The firm has a market cap of $60.39 billion, a PE ratio of 13.72, a P/E/G ratio of 2.21 and a beta of 0.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.00 and a quick ratio of 0.57.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.03). Kraft Heinz had a net margin of 39.56% and a return on equity of 6.62%. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Kraft Heinz Co will post 3.64 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 16th will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, November 15th. This represents a $2.50 annualized dividend and a dividend yield of 5.13%. Kraft Heinz’s payout ratio is 70.42%.

KHC has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. BidaskClub cut shares of Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 29th. ValuEngine raised shares of Kraft Heinz from a “strong sell” rating to a “sell” rating in a research note on Friday, October 19th. Morgan Stanley assumed coverage on shares of Kraft Heinz in a research note on Monday, September 17th. They set an “underweight” rating and a $52.00 price objective for the company. Finally, Credit Suisse Group raised shares of Kraft Heinz to a “hold” rating and set a $52.00 price objective for the company in a research note on Thursday, October 4th. Six analysts have rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $66.89.

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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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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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