Landsberg Bennett & Dubbaneh LLC Makes New $242,000 Investment in Kraft Heinz Co (NASDAQ:KHC)

Landsberg Bennett & Dubbaneh LLC bought a new position in Kraft Heinz Co (NASDAQ:KHC) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 8,694 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Kraft Heinz by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 48,427,138 shares of the company’s stock worth $1,503,178,000 after buying an additional 630,178 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Kraft Heinz by 5.1% in the 2nd quarter. BlackRock Inc. now owns 38,743,271 shares of the company’s stock worth $1,202,590,000 after buying an additional 1,884,480 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Kraft Heinz by 2.7% in the 2nd quarter. Invesco Ltd. now owns 20,084,226 shares of the company’s stock worth $623,415,000 after buying an additional 527,530 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Kraft Heinz by 4.5% in the 2nd quarter. Northern Trust Corp now owns 7,780,206 shares of the company’s stock worth $241,497,000 after buying an additional 336,299 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Kraft Heinz by 4.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,816,404 shares of the company’s stock worth $87,422,000 after buying an additional 121,706 shares during the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

A number of equities analysts have recently commented on KHC shares. Bank of America set a $32.00 price target on shares of Kraft Heinz and gave the stock a “neutral” rating in a report on Friday, August 9th. ValuEngine raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Co reaffirmed a “hold” rating on shares of Kraft Heinz in a report on Tuesday, September 3rd. UBS Group set a $30.00 target price on shares of Kraft Heinz and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Piper Jaffray Companies set a $26.00 target price on shares of Kraft Heinz and gave the company a “hold” rating in a report on Wednesday, September 4th. Four investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $36.05.

In other news, Director Damme Alexandre Van purchased 250,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average price of $28.45 per share, with a total value of $7,112,500.00. Following the acquisition, the director now directly owns 8,168 shares in the company, valued at $232,379.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.44, for a total transaction of $712,952,605.08. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Shares of Kraft Heinz stock opened at $27.08 on Friday. The firm has a market cap of $32.61 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77. Kraft Heinz Co has a 12-month low of $24.86 and a 12-month high of $58.08. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $27.14 and its two-hundred day simple moving average is $30.03.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 negative net margin of 43.40% and a positive return on equity of 6.06%. The company’s revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. As a group, sell-side analysts expect that Kraft Heinz Co will post 2.65 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date was Tuesday, August 20th. Kraft Heinz’s dividend payout ratio (DPR) is presently 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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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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