The Kraft Heinz Company (KHC) Holdings Trimmed by Tokio Marine Asset Management Co. Ltd.
Tokio Marine Asset Management Co. Ltd. cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 24.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,905 shares of the company’s stock after selling 2,499 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in The Kraft Heinz were worth $677,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Rockefeller Financial Services Inc. raised its stake in shares of The Kraft Heinz by 240.2% during the 1st quarter. Rockefeller Financial Services Inc. now owns 1,133 shares of the company’s stock worth $103,000 after purchasing an additional 800 shares during the period. V Wealth Management LLC bought a new stake in shares of The Kraft Heinz during the 2nd quarter worth $125,000. Blue Chip Partners Inc. raised its stake in shares of The Kraft Heinz by 0.5% during the 1st quarter. Blue Chip Partners Inc. now owns 1,476 shares of the company’s stock worth $134,000 after purchasing an additional 8 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of The Kraft Heinz during the 1st quarter worth $136,000. Finally, Enterprise Financial Services Corp raised its stake in shares of The Kraft Heinz by 11.8% during the 1st quarter. Enterprise Financial Services Corp now owns 1,521 shares of the company’s stock worth $138,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 61.91% of the company’s stock.
A number of research firms have recently commented on KHC. Royal Bank Of Canada set a $96.00 target price on The Kraft Heinz and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research upgraded The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Tuesday. Berenberg Bank set a $102.00 target price on The Kraft Heinz and gave the stock a “buy” rating in a research note on Monday, August 7th. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $85.00 target price (down from $94.00) on shares of The Kraft Heinz in a research note on Wednesday, August 9th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $96.00 target price on shares of The Kraft Heinz in a research note on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The Kraft Heinz currently has a consensus rating of “Buy” and an average target price of $97.26.
Shares of The Kraft Heinz Company (KHC) opened at 82.18 on Wednesday. The company has a market capitalization of $100.12 billion, a PE ratio of 26.34 and a beta of 0.45. The Kraft Heinz Company has a 52 week low of $79.69 and a 52 week high of $97.77. The company has a 50-day moving average price of $82.55 and a 200-day moving average price of $90.28.
The Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The Kraft Heinz’s revenue was down 1.7% on a year-over-year basis. Analysts predict that The Kraft Heinz Company will post $3.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be issued a $0.625 dividend. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, August 16th. This represents a $2.50 dividend on an annualized basis and a yield of 3.04%. The Kraft Heinz’s dividend payout ratio is currently 79.87%.
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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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