Rehmann Capital Advisory Group decreased its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,757 shares of the company’s stock after selling 110 shares during the period. Rehmann Capital Advisory Group’s holdings in Kraft Heinz were worth $432,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in KHC. Mesirow Financial Investment Management Equity Management purchased a new stake in Kraft Heinz during the third quarter valued at $680,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Kraft Heinz by 1.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,790,996 shares of the company’s stock valued at $160,312,000 after buying an additional 19,474 shares during the last quarter. DnB Asset Management AS increased its stake in Kraft Heinz by 6.7% in the third quarter. DnB Asset Management AS now owns 65,260 shares of the company’s stock valued at $5,841,000 after buying an additional 4,100 shares during the last quarter. FTB Advisors Inc. increased its stake in Kraft Heinz by 49.3% in the third quarter. FTB Advisors Inc. now owns 11,293 shares of the company’s stock valued at $1,005,000 after buying an additional 3,731 shares during the last quarter. Finally, Endurance Wealth Management Inc. increased its stake in Kraft Heinz by 3.7% in the third quarter. Endurance Wealth Management Inc. now owns 3,696 shares of the company’s stock valued at $327,000 after buying an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 61.47% of the company’s stock.
Shares of Kraft Heinz Co (NASDAQ:KHC) traded down 0.06% on Friday, hitting $90.11. The stock had a trading volume of 868,074 shares. The firm’s 50-day moving average is $90.58 and its 200-day moving average is $88.45. Kraft Heinz Co has a one year low of $79.69 and a one year high of $97.77. The company has a market cap of $109.72 billion, a price-to-earnings ratio of 32.07 and a beta of 0.42.
Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, May 3rd. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by $0.01. Kraft Heinz had a net margin of 10.44% and a return on equity of 6.40%. The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year. On average, analysts expect that Kraft Heinz Co will post $3.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 19th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, May 17th. Kraft Heinz’s dividend payout ratio is currently 105.26%.
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A number of equities analysts have commented on KHC shares. Credit Suisse Group AG reiterated an “outperform” rating on shares of Kraft Heinz in a report on Sunday, April 23rd. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Deutsche Bank AG assumed coverage on Kraft Heinz in a research note on Wednesday, February 15th. They set a “buy” rating and a $103.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price target on shares of Kraft Heinz in a research note on Thursday, February 16th. Finally, Vetr upgraded Kraft Heinz from a “hold” rating to a “buy” rating and set a $95.36 price target on the stock in a research note on Wednesday, March 1st. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Kraft Heinz has a consensus rating of “Buy” and a consensus price target of $98.03.
About 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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