The Kraft Heinz Company (NASDAQ:KHC) Stake Lowered by HighTower Advisors LLC
HighTower Advisors LLC cut its position in The Kraft Heinz Company (NASDAQ:KHC) by 2.2% during the first quarter, Holdings Channel reports. The institutional investor owned 365,864 shares of the company’s stock after selling 8,184 shares during the period. HighTower Advisors LLC’s holdings in The Kraft Heinz were worth $33,251,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. GW&K Investment Management LLC raised its position in shares of 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 valued at $993,000 after buying an additional 157 shares during the period. Bank of Montreal Can raised its position in shares of The Kraft Heinz by 27.1% in the first quarter. Bank of Montreal Can now owns 591,830 shares of the company’s stock valued at $53,745,000 after buying an additional 126,170 shares during the period. TNB Financial acquired a new position in shares of The Kraft Heinz during the first quarter valued at about $986,000. BKD Wealth Advisors LLC raised its position in shares of The Kraft Heinz by 17.2% in the first quarter. BKD Wealth Advisors LLC now owns 3,985 shares of the company’s stock valued at $362,000 after buying an additional 586 shares during the period. Finally, American National Bank raised its position in shares of The Kraft Heinz by 15.3% in the first quarter. American National Bank now owns 2,311 shares of the company’s stock valued at $210,000 after buying an additional 307 shares during the period. 62.01% of the stock is currently owned by institutional investors.
Shares of The Kraft Heinz Company (NASDAQ KHC) traded up 0.68% during trading on Friday, hitting $86.47. The stock had a trading volume of 2,539,485 shares. The firm has a 50 day moving average price of $86.07 and a 200-day moving average price of $89.76. The stock 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 52 week low of $79.69 and a 52 week high of $97.77.
The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The company had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The Kraft Heinz’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts forecast that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.50 annualized dividend and a dividend yield of 2.89%. This is a positive change from The Kraft Heinz’s previous quarterly dividend of $0.60. The Kraft Heinz’s payout ratio is presently 76.68%.
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Several equities analysts have issued reports on KHC shares. Zacks Investment Research lowered The Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Credit Suisse Group reissued an “outperform” rating on shares of The Kraft Heinz in a research note on Sunday, April 23rd. Royal Bank Of Canada reissued a “buy” rating and issued a $98.00 price target on shares of The Kraft Heinz in a research note on Tuesday, April 25th. Consumer Edge raised The Kraft Heinz to an “overweight” rating in a research note on Thursday, May 4th. Finally, Piper Jaffray Companies started coverage on The Kraft Heinz in a research note on Wednesday, May 24th. They issued a “neutral” rating and a $94.00 price target on the stock. 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 stock has an average rating of “Hold” and a consensus price target 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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