The Kraft Heinz Company (NASDAQ:KHC) Position Decreased by Macquarie Group Ltd.
Macquarie Group Ltd. reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.9% during the first quarter, Holdings Channel reports. The firm owned 8,571,863 shares of the company’s stock after selling 163,356 shares during the period. The Kraft Heinz accounts for approximately 1.4% of Macquarie Group Ltd.’s holdings, making the stock its 22nd largest position. Macquarie Group Ltd.’s holdings in The Kraft Heinz were worth $778,411,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of KHC. Flagship Harbor Advisors LLC raised its stake in shares of The Kraft Heinz by 0.5% in the first quarter. Flagship Harbor Advisors LLC now owns 6,885 shares of the company’s stock worth $632,000 after buying an additional 32 shares during the period. Credit Suisse AG raised its stake in shares of The Kraft Heinz by 9.3% in the first quarter. Credit Suisse AG now owns 1,669,696 shares of the company’s stock worth $151,624,000 after buying an additional 142,668 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of The Kraft Heinz during the first quarter worth about $9,571,000. Fiduciary Trust Co. raised its stake in shares of The Kraft Heinz by 37.4% in the first quarter. Fiduciary Trust Co. now owns 17,804 shares of the company’s stock worth $1,617,000 after buying an additional 4,850 shares during the period. Finally, Shelton Capital Management raised its stake in shares of The Kraft Heinz by 109.8% in the first quarter. Shelton Capital Management now owns 168,902 shares of the company’s stock worth $15,338,000 after buying an additional 88,391 shares during the period. Institutional investors and hedge funds own 62.01% of the company’s stock.
Shares of The Kraft Heinz Company (NASDAQ KHC) traded up 0.68% during midday trading on Friday, hitting $86.47. 2,539,485 shares of the company’s stock traded hands. The firm has a market capitalization of $105.34 billion, a price-to-earnings ratio of 27.71 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 company has a 50 day moving average price of $86.07 and a 200 day moving average price of $89.76.
The Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $6.73 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. Equities analysts anticipate that The Kraft Heinz Company will post $3.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be paid a $0.625 dividend. The ex-dividend date is Wednesday, August 16th. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.89%. The Kraft Heinz’s payout ratio is currently 76.68%.
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A number of brokerages have recently issued reports on KHC. BidaskClub upgraded shares of The Kraft Heinz from a “strong sell” rating to a “sell” rating in a research note on Saturday. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $85.00 target price (down previously from $94.00) on shares of The Kraft Heinz in a research note on Wednesday. Zacks Investment Research lowered shares of The Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Berenberg Bank set a $102.00 price objective on shares of The Kraft Heinz and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Credit Suisse Group set a $100.00 price objective on shares of The Kraft Heinz and gave the stock a “buy” rating in a research note on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. The Kraft Heinz currently has an average rating of “Hold” and an average target price of $97.45.
About The Kraft Heinz
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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