Heritage Wealth Advisors lifted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 7.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,636 shares of the company’s stock after purchasing an additional 856 shares during the quarter. Heritage Wealth Advisors’ holdings in The Kraft Heinz were worth $997,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Rockefeller Financial Services Inc. grew its holdings in shares of The Kraft Heinz by 240.2% during the first quarter. Rockefeller Financial Services Inc. now owns 1,133 shares of the company’s stock worth $103,000 after purchasing an additional 800 shares in the last quarter. V Wealth Management LLC purchased a new position in shares of The Kraft Heinz during the second quarter worth about $125,000. Blue Chip Partners Inc. grew its holdings in shares of The Kraft Heinz by 0.5% during the first quarter. Blue Chip Partners Inc. now owns 1,476 shares of the company’s stock worth $134,000 after purchasing an additional 8 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of The Kraft Heinz during the first quarter worth about $136,000. Finally, Enterprise Financial Services Corp grew its holdings in shares of The Kraft Heinz by 11.8% during the first quarter. Enterprise Financial Services Corp now owns 1,521 shares of the company’s stock worth $138,000 after purchasing an additional 160 shares in the last quarter. 61.91% of the stock is owned by institutional investors.
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Shares of The Kraft Heinz Company (NASDAQ KHC) opened at 82.18 on Wednesday. The firm has a 50-day moving average price of $82.55 and a 200 day moving average price of $90.28. The Kraft Heinz Company has a 12 month low of $79.69 and a 12 month high of $97.77. The company has a market cap of $100.12 billion, a P/E ratio of 26.34 and a beta of 0.45.
The Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.73 billion. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. Equities analysts predict that The Kraft Heinz Company will post $3.24 earnings per share for the current year.
The company 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 dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 3.04%. The ex-dividend date is Wednesday, August 16th. This is a boost 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 commented on KHC. Royal Bank Of Canada set a $96.00 price objective on The Kraft Heinz and gave the stock a “buy” rating in a report on Saturday, June 3rd. Zacks Investment Research raised The Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $85.00 price objective (down previously from $94.00) on shares of The Kraft Heinz in a report on Wednesday, August 9th. J P Morgan Chase & Co reissued an “overweight” rating and set a $99.00 price objective (down previously from $102.00) on shares of The Kraft Heinz in a report on Wednesday, June 28th. Finally, TheStreet raised The Kraft Heinz from a “c” rating to a “b-” rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The Kraft Heinz currently 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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