Panagora Asset Management Inc. increased its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 19.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,773 shares of the company’s stock after acquiring an additional 6,012 shares during the quarter. Panagora Asset Management Inc.’s holdings in Kraft Heinz were worth $1,141,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. AGF Investments America Inc. boosted its holdings in Kraft Heinz by 1.8% during the second quarter. AGF Investments America Inc. now owns 19,364 shares of the company’s stock worth $601,000 after buying an additional 350 shares in the last quarter. Investment Management of Virginia LLC raised its position in Kraft Heinz by 5.3% during the second quarter. Investment Management of Virginia LLC now owns 7,006 shares of the company’s stock worth $217,000 after acquiring an additional 350 shares during the last quarter. Close Asset Management Ltd raised its position in Kraft Heinz by 6.4% during the second quarter. Close Asset Management Ltd now owns 6,003 shares of the company’s stock worth $186,000 after acquiring an additional 360 shares during the last quarter. Weik Capital Management raised its position in Kraft Heinz by 4.9% during the first quarter. Weik Capital Management now owns 7,778 shares of the company’s stock worth $254,000 after acquiring an additional 365 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Kraft Heinz by 51.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,107 shares of the company’s stock worth $35,000 after acquiring an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 56.61% of the company’s stock.
Shares of NASDAQ:KHC traded down $0.07 during trading on Thursday, reaching $29.21. The stock had a trading volume of 210,333 shares, compared to its average volume of 10,101,144. The business has a fifty day moving average price of $27.81 and a 200-day moving average price of $30.73. 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 stock has a market cap of $35.61 billion, a P/E ratio of 8.30, a PEG ratio of 2.34 and a beta of 0.77. Kraft Heinz Co has a fifty-two week low of $24.86 and a fifty-two week high of $59.91.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The business had revenue of $5.96 billion during 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 in the previous year, the business posted $0.90 earnings per share. As a group, equities analysts forecast that Kraft Heinz Co will post 2.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date is Tuesday, August 20th. Kraft Heinz’s dividend payout ratio is presently 45.33%.
A number of equities analysts have issued reports on KHC shares. Evercore ISI started coverage on shares of Kraft Heinz in a research report on Tuesday, June 11th. They set an “in-line” rating and a $32.00 target price for the company. Credit Suisse Group set a $26.00 target price on shares of Kraft Heinz and gave the stock a “sell” rating in a research report on Friday, August 9th. Guggenheim set a $25.00 target price on shares of Kraft Heinz and gave the stock a “sell” rating in a research report on Monday, August 26th. Morgan Stanley cut their target price on shares of Kraft Heinz from $32.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 3rd. Finally, Bank of America set a $32.00 target price on shares of Kraft Heinz and gave the stock a “neutral” rating in a research report on Friday, August 9th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $36.05.
About Kraft Heinz
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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