First Republic Investment Management Inc. Increases Stake in Kraft Heinz Co (KHC)
First Republic Investment Management Inc. grew its holdings in shares of Kraft Heinz Co (NASDAQ:KHC) by 63.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,648 shares of the company’s stock after buying an additional 28,538 shares during the period. First Republic Investment Management Inc.’s holdings in Kraft Heinz were worth $4,626,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Integrated Investment Consultants LLC raised its position in shares of Kraft Heinz by 133.5% in the 2nd quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock worth $106,000 after purchasing an additional 965 shares during the last quarter. Stevens First Principles Investment Advisors purchased a new position in Kraft Heinz in the 2nd quarter worth about $108,000. Kiley Juergens Wealth Management LLC purchased a new position in Kraft Heinz in the 2nd quarter worth about $113,000. Rainier Group Investment Advisory LLC purchased a new position in Kraft Heinz in the 1st quarter worth about $118,000. Finally, CSat Investment Advisory L.P. purchased a new position in Kraft Heinz in the 2nd quarter worth about $120,000. Hedge funds and other institutional investors own 62.84% of the company’s stock.
KHC has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 target price on shares of Kraft Heinz in a research report on Tuesday, August 7th. Bank of America set a $85.00 target price on Kraft Heinz and gave the stock a “buy” rating in a research report on Monday, August 6th. BidaskClub raised Kraft Heinz from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Susquehanna Bancshares set a $58.00 target price on Kraft Heinz and gave the stock a “hold” rating in a research report on Tuesday, May 22nd. Finally, Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 27th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $75.25.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Friday, August 3rd. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. Kraft Heinz had a net margin of 40.85% and a return on equity of 6.16%. The firm had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. sell-side analysts forecast that Kraft Heinz Co will post 3.72 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 17th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Thursday, August 16th. Kraft Heinz’s payout ratio is currently 70.42%.
In related news, EVP Eduardo Pelleissone sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $63.85, for a total transaction of $2,234,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total value of $1,234,724,292.90. The disclosure for this sale can be found here. 26.81% of the stock is owned by corporate insiders.
Kraft Heinz Profile
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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