Tealwood Asset Management Inc. Cuts Stake in Kraft Heinz Co. (KHC)
Tealwood Asset Management Inc. decreased its stake in Kraft Heinz Co. (NASDAQ:KHC) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,458 shares of the company’s stock after selling 617 shares during the period. Kraft Heinz comprises 2.2% of Tealwood Asset Management Inc.’s investment portfolio, making the stock its 8th largest position. Tealwood Asset Management Inc.’s holdings in Kraft Heinz were worth $4,818,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Iowa State Bank bought a new position in shares of Kraft Heinz during the second quarter worth about $129,000. Quadrant Capital Group LLC raised its position 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 last quarter. Vigilant Capital Management LLC raised its position 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 last quarter. Sadoff Investment Management LLC bought a new position in shares of Kraft Heinz during the second quarter worth about $201,000. Finally, Integrated Investment Consultants LLC raised its position in shares of Kraft Heinz by 7.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,278 shares of the company’s stock worth $202,000 after buying an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 61.39% of the company’s stock.
Kraft Heinz Co. (NASDAQ:KHC) traded up 0.34% during trading on Monday, reaching $88.83. 2,208,358 shares of the company’s stock traded hands. The stock has a market cap of $108.16 billion, a P/E ratio of 65.12 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. The firm’s 50 day moving average price is $88.41 and its 200-day moving average price is $85.57.
Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, August 4th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.14. The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The company’s quarterly revenue was up 159.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 EPS. On average, equities analysts anticipate that Kraft Heinz Co. will post $3.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, August 26th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, August 24th. Kraft Heinz’s payout ratio is presently 181.82%.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Kraft Heinz from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Wednesday, June 29th. Morgan Stanley set a $97.00 price objective on shares of Kraft Heinz and gave the stock a “buy” rating in a research note on Friday, August 5th. Vetr upgraded shares of Kraft Heinz from a “sell” rating to a “buy” rating and set a $93.36 price objective on the stock in a research note on Monday, July 11th. Deutsche Bank AG upgraded shares of Kraft Heinz from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $103.00 in a research note on Friday, August 5th. Finally, Susquehanna reiterated a “buy” rating and issued a $98.00 price objective on shares of Kraft Heinz in a research note on Sunday, July 17th. 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. Kraft Heinz currently has an average rating of “Buy” and a consensus price target of $99.17.
In other news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of Kraft Heinz stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 26.92% of the stock is currently 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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