Schafer Cullen Capital Management Inc. lowered its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,416 shares of the company’s stock after selling 13 shares during the period. Schafer Cullen Capital Management Inc.’s holdings in The Kraft Heinz were worth $310,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Rockefeller Financial Services Inc. increased its stake in shares of The Kraft Heinz by 240.2% in the first quarter. Rockefeller Financial Services Inc. now owns 1,133 shares of the company’s stock valued at $103,000 after buying an additional 800 shares during the period. Bollard Group LLC increased its stake in shares of The Kraft Heinz by 0.7% in the first quarter. Bollard Group LLC now owns 1,149 shares of the company’s stock valued at $104,000 after buying an additional 8 shares during the period. Crestwood Advisors Group LLC bought a new stake in shares of The Kraft Heinz during the first quarter valued at approximately $109,000. Blue Chip Partners Inc. increased its stake in shares of The Kraft Heinz by 0.5% in the first quarter. Blue Chip Partners Inc. now owns 1,476 shares of the company’s stock valued at $134,000 after buying an additional 8 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of The Kraft Heinz during the first quarter valued at approximately $136,000. 62.01% of the stock is owned by institutional investors and hedge funds.
Shares of The Kraft Heinz Company (KHC) traded up 0.44% during trading on Monday, reaching $87.04. The company’s stock had a trading volume of 596,987 shares. The stock’s 50 day moving average is $86.92 and its 200 day moving average is $89.90. The Kraft Heinz Company has a one year low of $79.69 and a one year high of $97.77. The firm has a market cap of $105.98 billion, a P/E ratio of 30.98 and a beta of 0.44.
The Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The firm had revenue of $6.68 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities analysts forecast that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be paid a $0.625 dividend. This is a boost from The Kraft Heinz’s previous quarterly dividend of $0.60. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Wednesday, August 16th. The Kraft Heinz’s dividend payout ratio is currently 76.68%.
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Several brokerages have recently commented on KHC. BidaskClub downgraded shares of The Kraft Heinz from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada set a $96.00 price objective on shares of The Kraft Heinz and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Credit Suisse Group set a $100.00 price objective on shares of The Kraft Heinz and gave the stock a “buy” rating in a research report on Saturday. Consumer Edge raised shares of The Kraft Heinz to an “overweight” rating in a research report on Thursday, May 4th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $99.00 target price (down from $102.00) on shares of The Kraft Heinz in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The Kraft Heinz presently has a consensus rating of “Buy” and an average target price of $97.96.
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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