Kraft Heinz Co. (KHC) Shares Sold by Eagle Capital Management LLC
Eagle Capital Management LLC decreased its stake in shares of Kraft Heinz Co. (NASDAQ:KHC) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 26,584 shares of the company’s stock after selling 143 shares during the period. Kraft Heinz accounts for approximately 2.6% of Eagle Capital Management LLC’s portfolio, making the stock its 21st largest position. Eagle Capital Management LLC’s holdings in Kraft Heinz were worth $2,352,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. 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 valued at $113,000 after buying an additional 100 shares in the last quarter. Iowa State Bank acquired a new position in shares of Kraft Heinz during the second quarter worth about $129,000. Quadrant Capital Group LLC increased 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 period. Vigilant Capital Management LLC increased 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 period. Finally, Sadoff Investment Management LLC acquired a new position in shares of Kraft Heinz during the second quarter worth about $201,000. 61.39% of the stock is owned by hedge funds and other institutional investors.
Kraft Heinz Co. (NASDAQ:KHC) traded up 1.06% during midday trading on Tuesday, hitting $89.77. The stock had a trading volume of 1,283,366 shares. Kraft Heinz Co. has a one year low of $68.18 and a one year high of $90.54. The stock has a market cap of $109.31 billion, a PE ratio of 65.81 and a beta of 0.47. The firm has a 50 day moving average price of $88.41 and a 200 day moving average price of $85.57.
Kraft Heinz (NASDAQ:KHC) last issued 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. The business earned $6.79 billion during the quarter, compared to the consensus estimate of $4.70 billion. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The business’s revenue was up 159.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. Equities analysts expect that Kraft Heinz Co. will post $3.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, August 26th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 2.70%. Kraft Heinz’s payout ratio is currently 181.82%.
A number of equities analysts have recently issued reports on the company. Susquehanna reissued a “buy” rating on shares of Kraft Heinz in a research note 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 note on Monday, July 11th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $100.00 target price on shares of Kraft Heinz in a research note on Saturday, August 13th. Argus raised their price objective on Kraft Heinz from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, September 28th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $100.00 price objective (up from $98.00) on shares of Kraft Heinz in a research note 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 company presently 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 the business’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 transaction of $244,468,695.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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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