Union Bankshares Corp Boosts Holdings in The Kraft Heinz Company (KHC)

Union Bankshares Corp grew its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 14.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,888 shares of the company’s stock after acquiring an additional 375 shares during the quarter. Union Bankshares Corp’s holdings in The Kraft Heinz were worth $248,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of KHC. BlackRock Inc. raised its stake in shares of The Kraft Heinz by 2,314.8% during the first quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock worth $2,956,129,000 after acquiring an additional 31,204,852 shares in the last quarter. Morgan Stanley raised its stake in shares of The Kraft Heinz by 55.6% during the first quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock worth $759,605,000 after acquiring an additional 2,988,664 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of The Kraft Heinz by 3.9% during the first quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock worth $3,827,601,000 after acquiring an additional 1,585,231 shares in the last quarter. Thornburg Investment Management Inc. raised its stake in shares of The Kraft Heinz by 9,061.9% during the first quarter. Thornburg Investment Management Inc. now owns 1,145,240 shares of the company’s stock worth $103,999,000 after acquiring an additional 1,132,740 shares in the last quarter. Finally, FMR LLC raised its stake in shares of The Kraft Heinz by 9.8% during the first quarter. FMR LLC now owns 8,856,976 shares of the company’s stock worth $804,302,000 after acquiring an additional 790,267 shares in the last quarter. 61.91% of the stock is currently owned by hedge funds and other institutional investors.

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The Kraft Heinz Company (KHC) traded up 0.73% during mid-day trading on Monday, reaching $82.32. 737,843 shares of the company traded hands. The firm has a market capitalization of $100.29 billion, a P/E ratio of 26.38 and a beta of 0.45. The Kraft Heinz Company has a 12-month low of $79.69 and a 12-month high of $97.77. The company’s 50 day moving average price is $84.91 and its 200 day moving average price is $88.89.

The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.73 billion. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. Equities research analysts predict that The Kraft Heinz Company will post $3.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 3.06%. The ex-dividend date is Wednesday, August 16th. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. The Kraft Heinz’s dividend payout ratio (DPR) is currently 79.87%.

Several brokerages have recently issued reports on KHC. Royal Bank Of Canada set a $96.00 target price on shares of The Kraft Heinz and gave the stock a “buy” rating in a report on Saturday, June 3rd. Credit Suisse Group set a $100.00 target price on shares of The Kraft Heinz and gave the stock a “buy” rating in a report on Sunday. Berenberg Bank set a $102.00 target price on shares of The Kraft Heinz and gave the stock a “buy” rating in a report on Monday, August 7th. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $85.00 target price (down previously from $94.00) on shares of The Kraft Heinz in a report on Wednesday, August 9th. Finally, BMO Capital Markets restated a “hold” rating and issued a $96.00 target price on shares of The Kraft Heinz in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $97.26.

About The Kraft Heinz

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

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