Kraft Heinz Co (NASDAQ:KHC) Stock Position Raised by Lavaca Capital LLC

Lavaca Capital LLC lifted its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 20.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,602 shares of the company’s stock after acquiring an additional 3,809 shares during the quarter. Lavaca Capital LLC’s holdings in Kraft Heinz were worth $631,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newport Trust Co boosted its position in shares of Kraft Heinz by 14,858.7% in the third quarter. Newport Trust Co now owns 4,788,421 shares of the company’s stock worth $133,765,000 after buying an additional 4,756,410 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Kraft Heinz in the second quarter worth $81,466,000. BlackRock Inc. boosted its position in shares of Kraft Heinz by 5.1% in the second quarter. BlackRock Inc. now owns 38,743,271 shares of the company’s stock worth $1,202,590,000 after buying an additional 1,884,480 shares during the period. Marshall Wace LLP acquired a new stake in shares of Kraft Heinz in the second quarter worth $36,909,000. Finally, Balyasny Asset Management LLC purchased a new stake in shares of Kraft Heinz during the second quarter worth $35,839,000. 56.67% of the stock is owned by institutional investors and hedge funds.

NASDAQ KHC traded up $0.13 during trading on Friday, hitting $32.85. 4,422,700 shares of the company traded hands, compared to its average volume of 9,605,735. The company has a current ratio of 1.00, a quick ratio of 0.65 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $28.58 and a 200 day simple moving average of $29.56. The company has a market capitalization of $40.19 billion, a P/E ratio of 9.31, a PEG ratio of 2.63 and a beta of 0.80. Kraft Heinz Co has a 12 month low of $24.86 and a 12 month high of $54.87.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.15. The company had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $6.13 billion. Kraft Heinz had a positive return on equity of 6.23% and a negative net margin of 42.85%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. Equities research analysts predict that Kraft Heinz Co will post 2.78 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Thursday, November 14th. Kraft Heinz’s payout ratio is 45.33%.

Several analysts recently issued reports on the company. Bank of America set a $32.00 price objective on Kraft Heinz and gave the stock a “neutral” rating in a report on Friday, August 9th. Barclays set a $32.00 price objective on Kraft Heinz and gave the stock a “hold” rating in a report on Friday, November 1st. BMO Capital Markets increased their price objective on Kraft Heinz to $37.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Zacks Investment Research lowered Kraft Heinz from a “hold” rating to a “sell” rating and set a $30.00 price objective for the company. in a report on Tuesday, October 22nd. Finally, ValuEngine upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company’s stock. Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $34.26.

In related news, Director Damme Alexandre Van acquired 250,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were bought at an average cost of $28.45 per share, with a total value of $7,112,500.00. Following the completion of the acquisition, the director now owns 8,168 shares of the company’s stock, valued at $232,379.60. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of Kraft Heinz stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.44, for a total value of $712,952,605.08. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

About Kraft Heinz

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

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