Huntington National Bank Raises Position in The Kraft Heinz Company (KHC)
Huntington National Bank increased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 23.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,231 shares of the company’s stock after buying an additional 46,989 shares during the period. Huntington National Bank’s holdings in The Kraft Heinz were worth $21,258,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. GW&K Investment Management LLC raised its stake in The Kraft Heinz by 1.5% in the first quarter. GW&K Investment Management LLC now owns 10,933 shares of the company’s stock worth $993,000 after buying an additional 157 shares in the last quarter. Bank of Montreal Can raised its stake in The Kraft Heinz by 27.1% in the first quarter. Bank of Montreal Can now owns 591,830 shares of the company’s stock worth $53,745,000 after buying an additional 126,170 shares in the last quarter. TNB Financial acquired a new stake in The Kraft Heinz during the first quarter worth $986,000. BKD Wealth Advisors LLC raised its stake in The Kraft Heinz by 17.2% in the first quarter. BKD Wealth Advisors LLC now owns 3,985 shares of the company’s stock worth $362,000 after buying an additional 586 shares in the last quarter. Finally, American National Bank raised its stake in The Kraft Heinz by 15.3% in the first quarter. American National Bank now owns 2,311 shares of the company’s stock worth $210,000 after buying an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 62.01% of the company’s stock.
The Kraft Heinz Company (NASDAQ:KHC) traded up 0.68% during midday trading on Friday, reaching $86.47. 2,539,485 shares of the company’s stock traded hands. The firm has a market cap of $105.34 billion, a PE ratio of 27.71 and a beta of 0.44. The firm’s 50-day moving average is $86.07 and its 200 day moving average is $89.76. The Kraft Heinz Company has a 52-week low of $79.69 and a 52-week high of $97.77.
The Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, beating 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 firm had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. Equities research analysts expect that The Kraft Heinz Company will post $3.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 2.89%. 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. The Kraft Heinz’s payout ratio is presently 76.68%.
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A number of equities research analysts recently weighed in on the stock. BidaskClub lowered shares of The Kraft Heinz from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 5th. Royal Bank Of Canada set a $96.00 target price on shares of The Kraft Heinz and gave the stock a “buy” rating in a report on Saturday, June 3rd. Credit Suisse Group set a $100.00 target price on shares of The Kraft Heinz and gave the stock a “buy” rating in a report on Saturday, August 5th. Consumer Edge upgraded shares of The Kraft Heinz to an “overweight” rating in a report on Thursday, May 4th. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a $99.00 target price (down previously from $102.00) on shares of The Kraft Heinz in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. The Kraft Heinz has a consensus rating of “Hold” and an average target price of $97.45.
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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