Abner Herrman & Brock LLC increased its stake in The Kraft Heinz Company (NASDAQ:KHC) by 4.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,031 shares of the company’s stock after purchasing an additional 4,389 shares during the period. The Kraft Heinz accounts for about 1.6% of Abner Herrman & Brock LLC’s portfolio, making the stock its 26th largest position. Abner Herrman & Brock LLC’s holdings in The Kraft Heinz were worth $8,652,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Rockefeller Financial Services Inc. boosted its stake in The Kraft Heinz by 240.2% in 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 in the last quarter. Blue Chip Partners Inc. boosted its stake in The Kraft Heinz by 0.5% in 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in The Kraft Heinz in the 1st quarter worth approximately $136,000. Enterprise Financial Services Corp boosted its stake in The Kraft Heinz by 11.8% in 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 in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in The Kraft Heinz by 7.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,527 shares of the company’s stock worth $139,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 61.91% of the company’s stock.
Shares of The Kraft Heinz Company (NASDAQ KHC) traded down 0.32% during mid-day trading on Friday, reaching $81.02. 3,411,246 shares of the company’s stock traded hands. The Kraft Heinz Company has a one year low of $79.69 and a one year high of $97.77. The firm has a market cap of $98.70 billion, a price-to-earnings ratio of 25.97 and a beta of 0.45. The firm’s 50-day moving average is $81.98 and its 200 day moving average is $87.14.
The Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The business had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.73 billion. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. Analysts predict that The Kraft Heinz Company will post $3.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be issued a dividend of $0.625 per share. The ex-dividend date is Wednesday, August 16th. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. This represents a $2.50 annualized dividend and a dividend yield of 3.08%. The Kraft Heinz’s dividend payout ratio (DPR) is currently 79.87%.
A number of analysts recently commented on KHC shares. BidaskClub cut shares of The Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Zacks Investment Research upgraded shares of The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $91.00 target price (down from $99.00) on shares of The Kraft Heinz in a research note on Monday, July 10th. Credit Suisse Group set a $100.00 target price on shares of The Kraft Heinz and gave the stock a “buy” rating in a research note on Saturday, July 29th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $99.00 target price (down from $102.00) on shares of The Kraft Heinz in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The Kraft Heinz presently has an average rating of “Buy” and an average target price of $97.18.
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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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