The Kraft Heinz Company (KHC) Stake Boosted by Biltmore Wealth Management LLC
Biltmore Wealth Management LLC increased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,875 shares of the company’s stock after acquiring an additional 287 shares during the period. The Kraft Heinz comprises approximately 0.8% of Biltmore Wealth Management LLC’s portfolio, making the stock its 21st biggest holding. Biltmore Wealth Management LLC’s holdings in The Kraft Heinz were worth $674,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in KHC. BlackRock Inc. grew its holdings in shares of The Kraft Heinz by 2,314.8% in the first quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock valued at $2,956,129,000 after acquiring an additional 31,204,852 shares in the last quarter. Morgan Stanley grew its holdings in shares of The Kraft Heinz by 55.6% in the first quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock valued at $759,605,000 after acquiring an additional 2,988,664 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of The Kraft Heinz by 3.9% in the first quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock valued at $3,827,601,000 after acquiring an additional 1,585,231 shares in the last quarter. Thornburg Investment Management Inc. grew its holdings in shares of The Kraft Heinz by 9,061.9% in the first quarter. Thornburg Investment Management Inc. now owns 1,145,240 shares of the company’s stock valued at $103,999,000 after acquiring an additional 1,132,740 shares in the last quarter. Finally, Pioneer Investment Management Inc. bought a new position in shares of The Kraft Heinz in the second quarter valued at approximately $79,757,000. 61.80% of the stock is owned by institutional investors.
Several research firms have recently issued reports on KHC. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 target price on shares of The Kraft Heinz in a report on Thursday, September 21st. Susquehanna Bancshares Inc reaffirmed a “hold” rating and issued a $84.00 target price on shares of The Kraft Heinz in a report on Thursday, September 14th. Zacks Investment Research raised The Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Credit Suisse Group set a $100.00 target price on The Kraft Heinz and gave the company a “buy” rating in a report on Sunday, September 10th. Finally, BMO Capital Markets reissued a “hold” rating and set a $96.00 price objective on shares of The Kraft Heinz in a report 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. The stock has a consensus rating of “Buy” and a consensus price target of $97.18.
The Kraft Heinz Company (NASDAQ KHC) opened at 78.42 on Tuesday. The stock has a 50 day moving average price of $81.65 and a 200-day moving average price of $81.65. The Kraft Heinz Company has a 12-month low of $77.40 and a 12-month high of $97.77. The company has a market capitalization of $95.54 billion, a price-to-earnings ratio of 25.13 and a beta of 0.45.
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, beating analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.73 billion. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. Equities analysts predict that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 18th were paid a dividend of $0.625 per share. The ex-dividend date was Wednesday, August 16th. This is a positive change from The Kraft Heinz’s previous quarterly dividend of $0.60. This represents a $2.50 dividend on an annualized basis and a yield of 3.19%. The Kraft Heinz’s payout ratio is currently 79.87%.
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.
Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Kraft Heinz Company (NASDAQ:KHC).
Receive News & Ratings for The Kraft Heinz Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Kraft Heinz Company and related companies with MarketBeat.com's FREE daily email newsletter.