Geneva Partners LLC Invests $2.15 Million in Kraft Heinz Co (KHC) Stock

Geneva Partners LLC acquired a new position in shares of Kraft Heinz Co (NASDAQ:KHC) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 27,680 shares of the company’s stock, valued at approximately $2,147,000. Kraft Heinz makes up approximately 1.7% of Geneva Partners LLC’s holdings, making the stock its 21st largest position.

A number of other institutional investors have also recently made changes to their positions in KHC. BlackRock Inc. boosted its stake in shares of Kraft Heinz by 2,314.8% in the 1st quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock valued at $2,956,129,000 after purchasing an additional 31,204,852 shares in the last quarter. Morgan Stanley boosted its stake in shares of Kraft Heinz by 55.6% in the 1st quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock valued at $759,605,000 after purchasing an additional 2,988,664 shares in the last quarter. FMR LLC boosted its stake in shares of Kraft Heinz by 30.0% in the 2nd quarter. FMR LLC now owns 11,516,822 shares of the company’s stock valued at $986,301,000 after purchasing an additional 2,659,846 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Kraft Heinz by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock valued at $3,827,601,000 after purchasing an additional 1,585,231 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Kraft Heinz in the 2nd quarter valued at approximately $102,151,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Kraft Heinz Co (NASDAQ KHC) opened at $80.64 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.43 and a debt-to-equity ratio of 0.48. Kraft Heinz Co has a fifty-two week low of $75.21 and a fifty-two week high of $97.77. The stock has a market cap of $99,816.90, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 2.27 and a beta of 0.45.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. Kraft Heinz had a net margin of 15.03% and a return on equity of 7.49%. The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter last year, the business earned $0.83 EPS. The company’s revenue was up .7% compared to the same quarter last year. sell-side analysts forecast that Kraft Heinz Co will post 3.61 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.50 annualized dividend and a yield of 3.10%. Kraft Heinz’s payout ratio is 77.88%.

KHC has been the subject of a number of research reports. Zacks Investment Research lowered shares of Kraft Heinz from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. BMO Capital Markets dropped their price objective on shares of Kraft Heinz from $96.00 to $82.00 and set a “market perform” rating for the company in a report on Thursday, November 2nd. BidaskClub upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Citigroup dropped their price objective on shares of Kraft Heinz from $90.00 to $82.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Finally, Piper Jaffray Companies upgraded shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $92.00 to $90.00 in a report on Friday, October 6th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $92.49.

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Kraft Heinz Profile

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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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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