Truvestments Capital LLC boosted its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 30.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,747 shares of the company’s stock after purchasing an additional 1,104 shares during the period. Truvestments Capital LLC’s holdings in Kraft Heinz were worth $133,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Kraft Heinz by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 48,427,138 shares of the company’s stock valued at $1,503,178,000 after buying an additional 630,178 shares during the period. BlackRock Inc. lifted its holdings in shares of Kraft Heinz by 5.1% during the 2nd quarter. BlackRock Inc. now owns 38,743,271 shares of the company’s stock valued at $1,202,590,000 after buying an additional 1,884,480 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Kraft Heinz by 2.7% during the 2nd quarter. Invesco Ltd. now owns 20,084,226 shares of the company’s stock valued at $623,415,000 after buying an additional 527,530 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Kraft Heinz by 4.5% during the 2nd quarter. Northern Trust Corp now owns 7,780,206 shares of the company’s stock valued at $241,497,000 after buying an additional 336,299 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Kraft Heinz by 4.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,816,404 shares of the company’s stock valued at $87,422,000 after buying an additional 121,706 shares during the last quarter. 56.46% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.44, for a total value of $712,952,605.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Damme Alexandre Van purchased 250,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was acquired at an average price of $28.45 per share, with a total value of $7,112,500.00. Following the completion of the acquisition, the director now directly owns 8,168 shares of the company’s stock, valued at $232,379.60. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.
KHC has been the topic of a number of recent analyst reports. Bank of America set a $32.00 price objective on Kraft Heinz and gave the company a “neutral” rating in a research note on Friday, August 9th. Wells Fargo & Co reissued a “hold” rating on shares of Kraft Heinz in a research note on Tuesday, September 3rd. BidaskClub raised Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. UBS Group set a $30.00 price objective on Kraft Heinz and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, BMO Capital Markets cut their price objective on Kraft Heinz from $40.00 to $33.00 and set a “market perform” rating on the stock in a research note on Monday, August 12th. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Kraft Heinz currently has an average rating of “Hold” and an average target price of $36.05.
KHC stock traded up $0.15 during trading on Friday, hitting $27.09. The company had a trading volume of 1,451,466 shares, compared to its average volume of 7,531,829. The company has a fifty day moving average price of $27.10 and a two-hundred day moving average price of $30.06. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58. The company has a market cap of $32.59 billion, a P/E ratio of 7.67, a P/E/G ratio of 2.24 and a beta of 0.77. Kraft Heinz Co has a fifty-two week low of $24.86 and a fifty-two week high of $58.08.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.07 billion. Kraft Heinz had a positive return on equity of 6.06% and a negative net margin of 43.40%. Kraft Heinz’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. On average, analysts expect that Kraft Heinz Co will post 2.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 21st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.91%. The ex-dividend date was Tuesday, August 20th. Kraft Heinz’s dividend payout ratio is 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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