Cleararc Capital Inc. Has $4.14 Million Stake in Kraft Heinz Co (KHC)
Cleararc Capital Inc. grew its stake in Kraft Heinz Co (NASDAQ:KHC) by 332.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,873 shares of the company’s stock after acquiring an additional 50,628 shares during the quarter. Cleararc Capital Inc.’s holdings in Kraft Heinz were worth $4,138,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Schnieders Capital Management LLC lifted its position in Kraft Heinz by 3.2% during the 1st quarter. Schnieders Capital Management LLC now owns 27,688 shares of the company’s stock worth $1,725,000 after acquiring an additional 866 shares during the period. Captrust Financial Advisors lifted its position in Kraft Heinz by 8.3% during the 2nd quarter. Captrust Financial Advisors now owns 11,404 shares of the company’s stock worth $716,000 after acquiring an additional 870 shares during the period. Cibc Bank USA lifted its position in Kraft Heinz by 5.5% during the 2nd quarter. Cibc Bank USA now owns 16,638 shares of the company’s stock worth $1,045,000 after acquiring an additional 872 shares during the period. World Asset Management Inc lifted its position in Kraft Heinz by 2.5% during the 2nd quarter. World Asset Management Inc now owns 36,493 shares of the company’s stock worth $2,292,000 after acquiring an additional 903 shares during the period. Finally, Redmond Asset Management LLC lifted its position in Kraft Heinz by 20.1% during the 2nd quarter. Redmond Asset Management LLC now owns 5,454 shares of the company’s stock worth $343,000 after acquiring an additional 912 shares during the period. Institutional investors and hedge funds own 62.83% of the company’s stock.
In other Kraft Heinz news, 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 stock was sold at an average price of $59.85, for a total transaction of $1,234,724,292.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $2,234,750.00. The disclosure for this sale can be found here. Corporate insiders own 26.81% of the company’s stock.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Friday, August 3rd. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.57 billion. Kraft Heinz had a return on equity of 6.16% and a net margin of 40.85%. Kraft Heinz’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. equities research analysts expect that Kraft Heinz Co will post 3.72 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 17th were issued a $0.625 dividend. The ex-dividend date was Thursday, August 16th. This represents a $2.50 dividend on an annualized basis and a yield of 4.38%. Kraft Heinz’s payout ratio is 70.42%.
KHC has been the subject of several analyst reports. Bank of America set a $85.00 price objective on Kraft Heinz and gave the company a “buy” rating in a report on Monday, August 6th. BidaskClub raised Kraft Heinz from a “strong sell” rating to a “sell” rating in a report on Thursday, May 31st. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “hold” rating in a report on Monday, August 27th. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price objective on shares of Kraft Heinz in a report on Tuesday, August 7th. Finally, Susquehanna Bancshares set a $58.00 price objective on Kraft Heinz and gave the company a “hold” rating in a report on Tuesday, May 22nd. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $74.43.
Kraft Heinz Company 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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