Taylor Hoffman Wealth Management lessened its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,255 shares of the company’s stock after selling 507 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Kraft Heinz were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Hilltop Holdings Inc. acquired a new stake in shares of Kraft Heinz during the 2nd quarter worth approximately $254,000. Icon Wealth Partners LLC boosted its stake in Kraft Heinz by 45.3% in the 2nd quarter. Icon Wealth Partners LLC now owns 7,686 shares of the company’s stock valued at $239,000 after buying an additional 2,397 shares in the last quarter. Hi Line Capital Management LLC acquired a new stake in Kraft Heinz in the 2nd quarter valued at $2,209,000. BB&T Securities LLC boosted its stake in Kraft Heinz by 14.2% in the 2nd quarter. BB&T Securities LLC now owns 97,417 shares of the company’s stock valued at $3,023,000 after buying an additional 12,139 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Kraft Heinz by 8.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 212,638 shares of the company’s stock valued at $6,600,000 after buying an additional 15,978 shares in the last quarter. 56.67% of the stock is currently owned by institutional investors.
In related news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.44, for a total transaction of $712,952,605.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Damme Alexandre Van purchased 250,000 shares of Kraft Heinz stock in a transaction that occurred 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 transaction, the director now directly owns 8,168 shares of the company’s stock, valued at approximately $232,379.60. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.15. The company had revenue of $6.08 billion during the quarter, compared to analysts’ expectations of $6.13 billion. Kraft Heinz had a positive return on equity of 6.23% and a negative net margin of 42.85%. Kraft Heinz’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. On average, research analysts expect that Kraft Heinz Co will post 2.78 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.60 annualized dividend and a dividend yield of 4.87%. Kraft Heinz’s dividend payout ratio is currently 45.33%.
Several brokerages recently commented on KHC. BidaskClub raised Kraft Heinz from a “hold” rating to a “buy” rating in a research note on Thursday. BMO Capital Markets boosted their price target on Kraft Heinz to $37.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Wells Fargo & Co reaffirmed a “hold” rating on shares of Kraft Heinz in a research note on Tuesday, September 3rd. Guggenheim set a $25.00 target price on Kraft Heinz and gave the stock a “sell” rating in a research report on Monday, August 26th. Finally, UBS Group set a $30.00 target price on Kraft Heinz and gave the stock a “hold” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company. Kraft Heinz presently has an average rating of “Hold” and a consensus target price of $34.26.
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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