Stralem & Co. Inc. decreased its position in The Kraft Heinz Company (NASDAQ:KHC) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 289,630 shares of the company’s stock after selling 2,750 shares during the period. The Kraft Heinz makes up about 2.9% of Stralem & Co. Inc.’s holdings, making the stock its 20th largest position. Stralem & Co. Inc.’s holdings in The Kraft Heinz were worth $24,804,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of The Kraft Heinz by 2,314.8% in the first quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock worth $2,956,129,000 after buying an additional 31,204,852 shares during the last quarter. Morgan Stanley increased its stake in shares of The Kraft Heinz by 55.6% in the first quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock worth $759,605,000 after buying an additional 2,988,664 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of The Kraft Heinz by 3.9% in the first quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock worth $3,827,601,000 after buying an additional 1,585,231 shares during the last quarter. Thornburg Investment Management Inc. increased its stake in The Kraft Heinz by 9,061.9% in the first quarter. Thornburg Investment Management Inc. now owns 1,145,240 shares of the company’s stock worth $103,999,000 after buying an additional 1,132,740 shares during the last quarter. Finally, Vontobel Asset Management Inc. increased its stake in The Kraft Heinz by 171.3% in the first quarter. Vontobel Asset Management Inc. now owns 1,584,306 shares of the company’s stock worth $146,945,000 after buying an additional 1,000,336 shares during the last quarter. Hedge funds and other institutional investors own 61.88% of the company’s stock.
Shares of The Kraft Heinz Company (NASDAQ KHC) opened at 85.11 on Friday. The Kraft Heinz Company has a 1-year low of $79.69 and a 1-year high of $97.77. The company has a market cap of $103.69 billion, a price-to-earnings ratio of 27.28 and a beta of 0.44. The stock has a 50 day moving average of $85.85 and a 200 day moving average of $89.68.
The Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. Analysts predict that The Kraft Heinz Company will post $3.24 EPS for the current year.
The company also recently disclosed 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 is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, August 16th. This represents a $2.50 dividend on an annualized basis and a yield of 2.94%. The Kraft Heinz’s dividend payout ratio is 76.68%.
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A number of equities research analysts have recently weighed in on KHC shares. Credit Suisse Group restated an “outperform” rating on shares of The Kraft Heinz in a research note on Sunday, April 23rd. Royal Bank Of Canada reiterated a “buy” rating and set a $98.00 target price on shares of The Kraft Heinz in a research report on Tuesday, April 25th. Zacks Investment Research upgraded shares of The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Consumer Edge upgraded shares of The Kraft Heinz to an “overweight” rating in a research report on Thursday, May 4th. Finally, Piper Jaffray Companies assumed coverage on shares of The Kraft Heinz in a report on Wednesday, May 24th. They set a “neutral” rating and a $94.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $97.31.
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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