Huntington National Bank Has $2,286,000 Stake in Kraft Heinz Co. (KHC)
Huntington National Bank boosted its stake in Kraft Heinz Co. (NASDAQ:KHC) by 2.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 25,826 shares of the company’s stock after buying an additional 593 shares during the period. Huntington National Bank’s holdings in Kraft Heinz were worth $2,286,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Evanson Asset Management LLC boosted its stake in Kraft Heinz by 0.5% in the second quarter. Evanson Asset Management LLC now owns 3,011 shares of the company’s stock worth $266,000 after buying an additional 16 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Kraft Heinz by 0.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,112 shares of the company’s stock worth $364,000 after buying an additional 38 shares during the period. Cape Cod Five Cents Savings Bank boosted its stake in Kraft Heinz by 1.0% in the second quarter. Cape Cod Five Cents Savings Bank now owns 4,572 shares of the company’s stock worth $405,000 after buying an additional 46 shares during the period. Bath Savings Trust Co boosted its stake in Kraft Heinz by 1.8% in the second quarter. Bath Savings Trust Co now owns 2,667 shares of the company’s stock worth $236,000 after buying an additional 47 shares during the period. Finally, OLD Second National Bank of Aurora boosted its stake in Kraft Heinz by 2.6% in the second quarter. OLD Second National Bank of Aurora now owns 2,933 shares of the company’s stock worth $260,000 after buying an additional 74 shares during the period. 61.30% of the stock is currently owned by hedge funds and other institutional investors.
Kraft Heinz Co. (NASDAQ:KHC) traded up 1.70% during mid-day trading on Friday, hitting $88.53. 2,388,906 shares of the stock were exchanged. The stock has a market capitalization of $107.80 billion, a PE ratio of 64.90 and a beta of 0.47. The company has a 50-day moving average of $88.39 and a 200-day moving average of $85.40. Kraft Heinz Co. has a 52 week low of $68.18 and a 52 week high of $90.54.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.14. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $4.70 billion. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The firm’s revenue for the quarter was up 159.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 earnings per share. On average, equities analysts predict that Kraft Heinz Co. will post $3.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Friday, August 26th were given a dividend of $0.60 per share. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.40 dividend on an annualized basis and a yield of 2.71%. Kraft Heinz’s dividend payout ratio is 181.82%.
KHC has been the topic of a number of research reports. Zacks Investment Research raised shares of Kraft Heinz from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Wednesday, June 29th. Morgan Stanley set a $97.00 price target on shares of Kraft Heinz and gave the stock a “buy” rating in a report on Friday, August 5th. 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 report on Monday, July 11th. Deutsche Bank AG raised shares of Kraft Heinz from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $103.00 in a report on Friday, August 5th. Finally, Susquehanna reaffirmed a “buy” rating and issued a $98.00 price target on shares of Kraft Heinz in a report on Sunday, July 17th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $99.17.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $87.05, for a total value of $244,468,695.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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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