Tower Research Capital LLC TRC Has $253,000 Position in Kraft Heinz Co. (KHC)
Tower Research Capital LLC TRC increased its position in shares of Kraft Heinz Co. (NASDAQ:KHC) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,855 shares of the company’s stock after buying an additional 260 shares during the period. Tower Research Capital LLC TRC’s holdings in Kraft Heinz were worth $253,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of KHC. Enterprise Financial Services Corp increased its position in Kraft Heinz by 8.5% in the second quarter. Enterprise Financial Services Corp now owns 1,280 shares of the company’s stock worth $113,000 after buying an additional 100 shares during the period. Iowa State Bank acquired a new stake in shares of Kraft Heinz during the second quarter worth $129,000. Balentine LLC raised its stake in shares of Kraft Heinz by 43.3% in the first quarter. Balentine LLC now owns 1,605 shares of the company’s stock worth $126,000 after buying an additional 485 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Kraft Heinz by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 1,637 shares of the company’s stock worth $135,000 after buying an additional 94 shares during the period. Finally, Vigilant Capital Management LLC raised its stake in shares of Kraft Heinz by 7.1% in the second quarter. Vigilant Capital Management LLC now owns 1,756 shares of the company’s stock worth $155,000 after buying an additional 116 shares during the period. 61.30% of the stock is currently owned by institutional investors and hedge funds.
Kraft Heinz Co. (NASDAQ:KHC) opened at 89.05 on Friday. The company has a 50 day moving average price of $88.78 and a 200-day moving average price of $84.18. The firm has a market capitalization of $108.43 billion, a PE ratio of 65.29 and a beta of 0.47. Kraft Heinz Co. has a one year low of $68.18 and a one year high of $90.54.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.14. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the company posted $0.92 EPS. The company’s revenue was up 159.7% compared to the same quarter last year. On average, equities analysts predict that Kraft Heinz Co. will post $3.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, August 26th will be paid a $0.60 dividend. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Wednesday, August 24th. Kraft Heinz’s dividend payout ratio is currently 181.82%.
KHC has been the subject of several research reports. Zacks Investment Research lowered Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. RBC Capital Markets reiterated an “outperform” rating and issued a $96.00 target price (up previously from $92.00) on shares of Kraft Heinz in a research report on Friday, August 5th. Stifel Nicolaus lifted their target price on Kraft Heinz from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Vetr lowered Kraft Heinz from a “hold” rating to a “sell” rating and set a $82.91 target price for the company. in a research report on Wednesday, June 29th. Finally, Deutsche Bank AG upgraded Kraft Heinz from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $103.00 in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $98.79.
In other news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total value of $244,468,695.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 26.92% of the stock is owned by insiders.
Kraft Heinz Company Profile
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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