Carnegie Capital Asset Management LLC held its position in The Kraft Heinz Company (NASDAQ:KHC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,883 shares of the company’s stock at the close of the second quarter. Carnegie Capital Asset Management LLC’s holdings in The Kraft Heinz were worth $684,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of KHC. BlackRock Inc. lifted its position in The 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 during the last quarter. Morgan Stanley lifted its position in The 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 during the last quarter. FMR LLC lifted its position in The 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 during the last quarter. Vanguard Group Inc. lifted its position in The 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 during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in The Kraft Heinz in the 2nd quarter valued at about $102,151,000. Institutional investors own 61.79% of the company’s stock.
Several analysts recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of The Kraft Heinz from $96.00 to $82.00 and set a “market perform” rating on the stock in a research report on Thursday. Susquehanna Bancshares Inc cut their price objective on shares of The Kraft Heinz from $83.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday. Credit Suisse Group reiterated an “outperform” rating and issued a $90.00 price objective (down from $100.00) on shares of The Kraft Heinz in a research report on Thursday. Citigroup Inc. cut their price objective on shares of The Kraft Heinz from $90.00 to $82.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Zacks Investment Research upgraded shares of The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $92.76.
The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.33 billion. The Kraft Heinz had a net margin of 15.03% and a return on equity of 7.53%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.50 dividend on an annualized basis and a yield of Infinity. The Kraft Heinz’s payout ratio is presently 77.88%.
The 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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