Greenleaf Trust bought a new position in shares of Kraft Heinz Co (NASDAQ:KHC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,722 shares of the company’s stock, valued at approximately $611,000.
Several other large investors also recently modified their holdings of KHC. BlackRock Inc. boosted its stake in shares of Kraft Heinz by 0.8% during the first quarter. BlackRock Inc. now owns 35,345,299 shares of the company’s stock valued at $2,201,661,000 after purchasing an additional 271,341 shares in the last quarter. Magellan Asset Management Ltd boosted its stake in shares of Kraft Heinz by 12.4% during the first quarter. Magellan Asset Management Ltd now owns 24,092,135 shares of the company’s stock valued at $1,500,699,000 after purchasing an additional 2,663,103 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Kraft Heinz by 15.2% during the first quarter. Principal Financial Group Inc. now owns 2,612,932 shares of the company’s stock valued at $162,759,000 after purchasing an additional 345,034 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Kraft Heinz by 16.3% during the second quarter. Wells Fargo & Company MN now owns 2,511,521 shares of the company’s stock valued at $157,774,000 after purchasing an additional 352,642 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Kraft Heinz by 1.2% during the second quarter. Bessemer Group Inc. now owns 2,325,844 shares of the company’s stock valued at $146,109,000 after purchasing an additional 28,406 shares in the last quarter. 62.48% of the stock is currently owned by institutional investors and hedge funds.
In other news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of Kraft Heinz stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total transaction of $1,234,724,292.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eduardo Pelleissone sold 35,000 shares of Kraft Heinz stock in a transaction on Monday, August 6th. The stock was sold at an average price of $63.85, for a total transaction of $2,234,750.00. The disclosure for this sale can be found here. Insiders own 26.81% of the company’s stock.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Friday, August 3rd. The company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.08. Kraft Heinz had a net margin of 40.85% and a return on equity of 6.16%. The business had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. equities analysts predict that Kraft Heinz Co will post 3.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 17th will be paid a dividend of $0.625 per share. The ex-dividend date is Thursday, August 16th. This represents a $2.50 annualized dividend and a dividend yield of 4.16%. Kraft Heinz’s payout ratio is currently 70.42%.
A number of research firms have recently issued reports on KHC. Bank of America set a $85.00 price objective on shares of Kraft Heinz and gave the company a “buy” rating in a research note on Monday, August 6th. DZ Bank restated a “sell” rating on shares of Kraft Heinz in a research note on Friday, May 4th. Credit Suisse Group set a $55.00 target price on shares of Kraft Heinz and gave the company a “hold” rating in a research note on Thursday, May 3rd. BidaskClub upgraded shares of Kraft Heinz from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 31st. Finally, Royal Bank of Canada restated a “buy” rating and issued a $77.00 target price on shares of Kraft Heinz in a research note on Tuesday, April 24th. Five analysts have rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $75.25.
Kraft Heinz Company 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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