Montag & Caldwell LLC Sells 58,228 Shares of Kraft Heinz Co. (KHC)
Montag & Caldwell LLC lowered its position in Kraft Heinz Co. (NASDAQ:KHC) by 3.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,830,835 shares of the company’s stock after selling 58,228 shares during the period. Kraft Heinz makes up 3.3% of Montag & Caldwell LLC’s portfolio, making the stock its 12th largest position. Montag & Caldwell LLC’s holdings in Kraft Heinz were worth $161,992,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Willingdon Wealth Management bought a new position in Kraft Heinz during the first quarter worth about $1,853,000. Rehmann Capital Advisory Group boosted its position in Kraft Heinz by 15.6% in the first quarter. Rehmann Capital Advisory Group now owns 5,405 shares of the company’s stock worth $425,000 after buying an additional 729 shares during the period. Stratos Wealth Partners LTD. boosted its position in Kraft Heinz by 21.0% in the first quarter. Stratos Wealth Partners LTD. now owns 12,604 shares of the company’s stock worth $990,000 after buying an additional 2,186 shares during the period. Teachers Advisors Inc. boosted its position in Kraft Heinz by 10.5% in the first quarter. Teachers Advisors Inc. now owns 1,103,957 shares of the company’s stock worth $86,727,000 after buying an additional 104,920 shares during the period. Finally, Ngam Advisors L.P. boosted its position in Kraft Heinz by 35.4% in the first quarter. Ngam Advisors L.P. now owns 168,735 shares of the company’s stock worth $13,256,000 after buying an additional 44,145 shares during the period. 61.30% of the stock is currently owned by institutional investors.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded down 1.41% during midday trading on Tuesday, hitting $87.82. 1,414,162 shares of the stock traded hands. Kraft Heinz Co. has a 52 week low of $68.18 and a 52 week high of $90.54. The company’s 50-day moving average is $88.84 and its 200 day moving average is $84.89. The firm has a market capitalization of $106.93 billion, a PE ratio of 64.38 and a beta of 0.47.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.14. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the company earned $0.92 earnings per share. Kraft Heinz’s quarterly revenue was up 159.7% on a year-over-year basis. Analysts anticipate that Kraft Heinz Co. will post $3.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, August 26th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, August 24th. This represents a $2.40 annualized dividend and a dividend yield of 2.69%. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s payout ratio is currently 181.82%.
A number of equities analysts have recently issued reports on the stock. Susquehanna reissued a “buy” rating on shares of Kraft Heinz in a research report on Monday, August 22nd. Vetr raised shares of Kraft Heinz from a “sell” rating to a “buy” rating and set a $93.36 price target on the stock in a research report on Monday, July 11th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $100.00 price target on shares of Kraft Heinz in a research report on Saturday, August 13th. Argus raised their price target on shares of Kraft Heinz from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, September 28th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $100.00 price target (up previously from $98.00) on shares of Kraft Heinz in a research report on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $99.17.
In related news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $87.05, for a total transaction of $244,468,695.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 26.92% of the company’s stock.
About 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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