WestEnd Advisors LLC Buys New Stake in Kraft Heinz Co. (KHC)
WestEnd Advisors LLC purchased a new position in shares of Kraft Heinz Co. (NASDAQ:KHC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,100,048 shares of the company’s stock, valued at approximately $97,332,000. Kraft Heinz makes up about 5.2% of WestEnd Advisors LLC’s portfolio, making the stock its largest position.
Several other hedge funds have also made changes to their positions in the stock. Enterprise Financial Services Corp boosted its stake in shares of 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 last quarter. Iowa State Bank purchased a new stake in Kraft Heinz during the second quarter worth $129,000. Quadrant Capital Group LLC raised 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. Vigilant Capital Management LLC raised 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. Finally, Sadoff Investment Management LLC purchased a new stake in Kraft Heinz during the second quarter worth $201,000. Institutional investors own 61.39% of the company’s stock.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded down 0.96% during midday trading on Wednesday, reaching $88.08. 2,720,953 shares of the company’s stock traded hands. Kraft Heinz Co. has a one year low of $68.18 and a one year high of $90.54. The company has a market capitalization of $107.25 billion, a price-to-earnings ratio of 64.57 and a beta of 0.47. The company has a 50-day moving average of $88.42 and a 200-day moving average of $85.64.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.85 earnings per share 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 business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was up 159.7% on a year-over-year basis. Equities research analysts anticipate that Kraft Heinz Co. will post $3.24 EPS for the current year.
The business 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 annualized dividend and a dividend yield of 2.72%. 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. Kraft Heinz’s payout ratio is 181.82%.
KHC has been the topic of a number of analyst reports. JPMorgan Chase & Co. reaffirmed a “focus list” rating on shares of Kraft Heinz in a report on Tuesday, October 4th. Sanford C. Bernstein set a $110.00 target price on shares of Kraft Heinz and gave the stock a “buy” rating in a report on Monday, September 12th. Vetr raised shares of Kraft Heinz from a “buy” rating to a “strong-buy” rating and set a $98.22 target price on the stock in a report on Thursday, October 6th. Susquehanna decreased their target price on shares of Kraft Heinz from $118.00 to $114.00 and set a “positive” rating on the stock in a report on Friday, August 26th. Finally, Morgan Stanley decreased their target price on shares of Kraft Heinz from $100.00 to $97.00 and set an “overweight” rating on the stock in a report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price 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 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 is available at the SEC website. 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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