Stokes & Hubbell Capital Management LLC raised its position in Kraft Heinz Co (NASDAQ:KHC) by 38.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,422 shares of the company’s stock after purchasing an additional 2,594 shares during the quarter. Stokes & Hubbell Capital Management LLC’s holdings in Kraft Heinz were worth $807,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Waldron LP increased its position in shares of Kraft Heinz by 5.8% in the first quarter. Waldron LP now owns 4,518 shares of the company’s stock valued at $410,000 after acquiring an additional 247 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Kraft Heinz by 47.8% in the first quarter. Acadian Asset Management LLC now owns 6,640 shares of the company’s stock valued at $603,000 after acquiring an additional 2,146 shares during the last quarter. Delta Asset Management LLC TN increased its position in shares of Kraft Heinz by 0.8% in the first quarter. Delta Asset Management LLC TN now owns 5,448 shares of the company’s stock valued at $495,000 after acquiring an additional 41 shares during the last quarter. Duncker Streett & Co. Inc. increased its position in shares of Kraft Heinz by 12.1% in the first quarter. Duncker Streett & Co. Inc. now owns 2,388 shares of the company’s stock valued at $217,000 after acquiring an additional 257 shares during the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management increased its position in shares of Kraft Heinz by 64.8% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 46,995 shares of the company’s stock valued at $4,268,000 after acquiring an additional 18,470 shares during the last quarter. 61.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kraft Heinz Co (KHC) traded up 0.32% during midday trading on Friday, hitting $81.72. The stock had a trading volume of 3,547,177 shares. The stock’s 50-day moving average price is $84.91 and its 200 day moving average price is $88.89. The company has a market cap of $99.56 billion, a price-to-earnings ratio of 26.19 and a beta of 0.45. Kraft Heinz Co has a 52 week low of $79.69 and a 52 week high of $97.77.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. Kraft Heinz had a net margin of 17.37% and a return on equity of 8.01%. The company had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same quarter last year, the business posted $0.85 EPS. Kraft Heinz’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities analysts forecast that Kraft Heinz Co will post $3.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.50 annualized dividend and a dividend yield of 3.06%. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.60. Kraft Heinz’s dividend payout ratio (DPR) is presently 79.87%.
A number of analysts recently issued reports on KHC shares. BidaskClub raised Kraft Heinz from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Credit Suisse Group set a $100.00 target price on Kraft Heinz and gave the company a “buy” rating in a research report on Saturday, August 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $95.00 target price on shares of Kraft Heinz in a research report on Friday, September 1st. Zacks Investment Research downgraded Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Thursday, June 29th. Finally, Susquehanna Bancshares Inc set a $99.00 target price on Kraft Heinz and gave the company a “hold” rating in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. Kraft Heinz currently has an average rating of “Buy” and a consensus target price of $97.26.
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Kraft Heinz Profile
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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