Kornitzer Capital Management Inc. KS Sells 54,317 Shares of Kraft Heinz Co. (KHC)
Kornitzer Capital Management Inc. KS reduced its stake in shares of Kraft Heinz Co. (NASDAQ:KHC) by 27.4% during the second quarter, Holdings Channel reports. The fund owned 143,773 shares of the company’s stock after selling 54,317 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Kraft Heinz were worth $12,721,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Enterprise Financial Services Corp increased its stake 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 purchased a new stake in Kraft Heinz during the second quarter worth about $129,000. Balentine LLC increased its stake in 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 increased its stake in 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 increased its stake in 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. Hedge funds and other institutional investors own 61.30% of the company’s stock.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded up 1.70% during mid-day trading on Friday, reaching $88.53. The company’s stock had a trading volume of 2,388,906 shares. The stock has a market capitalization of $107.80 billion, a P/E ratio of 64.90 and a beta of 0.47. The company has a 50 day moving average price of $88.39 and a 200 day moving average price of $85.40. Kraft Heinz Co. has a 12 month low of $68.18 and a 12 month high of $90.54.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business earned $6.79 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the company earned $0.92 earnings per share. Kraft Heinz’s quarterly revenue was up 159.7% compared to the same quarter last year. On average, equities research analysts anticipate that Kraft Heinz Co. will post $3.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 7th. Shareholders of record on Friday, August 26th were issued a dividend of $0.60 per share. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Wednesday, August 24th. Kraft Heinz’s dividend payout ratio (DPR) is 181.82%.
A number of research firms have issued reports on KHC. Susquehanna reissued a “buy” rating on shares of Kraft Heinz in a research report on Monday, August 22nd. Vetr raised Kraft Heinz from a “sell” rating to a “buy” rating and set a $93.36 target price for the company in a research report on Monday, July 11th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $100.00 target price on shares of Kraft Heinz in a research report on Saturday, August 13th. Argus upped their target price on Kraft Heinz from $91.00 to $96.00 and gave the stock 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 target price (up previously from $98.00) on shares of Kraft Heinz in a research report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $99.17.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total transaction of $244,468,695.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 26.92% of the company’s stock.
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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