Biltmore Wealth Management LLC lowered its position in The Kraft Heinz Company (NASDAQ:KHC) by 1.4% during the first quarter, Holdings Channel reports. The firm owned 7,588 shares of the company’s stock after selling 108 shares during the period. The Kraft Heinz makes up approximately 0.6% of Biltmore Wealth Management LLC’s portfolio, making the stock its 18th largest position. Biltmore Wealth Management LLC’s holdings in The Kraft Heinz were worth $689,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Gateway Investment Advisers LLC raised its stake in The Kraft Heinz by 5.2% in the first quarter. Gateway Investment Advisers LLC now owns 378,339 shares of the company’s stock worth $34,357,000 after buying an additional 18,748 shares during the period. Tiedemann Wealth Management LLC raised its stake in The Kraft Heinz by 6.4% in the first quarter. Tiedemann Wealth Management LLC now owns 47,256 shares of the company’s stock worth $4,291,000 after buying an additional 2,861 shares during the period. Cape Cod Five Cents Savings Bank raised its stake in The Kraft Heinz by 9.3% in the first quarter. Cape Cod Five Cents Savings Bank now owns 4,698 shares of the company’s stock worth $427,000 after buying an additional 399 shares during the period. Pillar Pacific Capital Management LLC raised its stake in The Kraft Heinz by 7.6% in the first quarter. Pillar Pacific Capital Management LLC now owns 3,693 shares of the company’s stock worth $335,000 after buying an additional 262 shares during the period. Finally, K2 Principal Fund L.P. raised its stake in The Kraft Heinz by 338.8% in the first quarter. K2 Principal Fund L.P. now owns 14,507 shares of the company’s stock worth $1,317,000 after buying an additional 11,201 shares during the period. Institutional investors and hedge funds own 62.01% of the company’s stock.

The Kraft Heinz Company (KHC) traded up 0.55% on Monday, hitting $87.14. The stock had a trading volume of 163,746 shares. The company’s 50 day moving average is $86.92 and its 200-day moving average is $89.90. The firm has a market capitalization of $106.10 billion, a price-to-earnings ratio of 31.01 and a beta of 0.44. The Kraft Heinz Company has a 1-year low of $79.69 and a 1-year high of $97.77.

The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%. The company had revenue of $6.68 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The Kraft Heinz’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, analysts forecast that The Kraft Heinz Company will post $3.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be paid a $0.625 dividend. This is a boost from The Kraft Heinz’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.50 annualized dividend and a dividend yield of 2.88%. The Kraft Heinz’s payout ratio is currently 76.68%.

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A number of equities research analysts recently commented on KHC shares. Credit Suisse Group restated an “outperform” rating on shares of The Kraft Heinz in a research report on Sunday, April 23rd. Vetr lowered The Kraft Heinz from a “buy” rating to a “hold” rating and set a $95.36 price target on the stock. in a research report on Wednesday, April 12th. Zacks Investment Research upgraded The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. BidaskClub lowered The Kraft Heinz from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Finally, Susquehanna Bancshares Inc set a $99.00 price target on The Kraft Heinz and gave the stock a “hold” rating in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $97.96.

The 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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Institutional Ownership by Quarter for The Kraft Heinz (NASDAQ:KHC)

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