Landscape Capital Management L.L.C. lifted its stake in Kraft Heinz Co (NASDAQ:KHC) by 1,463.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,838 shares of the company’s stock after acquiring an additional 114,043 shares during the period. Landscape Capital Management L.L.C.’s holdings in Kraft Heinz were worth $3,782,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in KHC. Magellan Asset Management Ltd boosted its stake in Kraft Heinz by 12.2% during the first quarter. Magellan Asset Management Ltd now owns 37,093,237 shares of the company’s stock worth $1,211,094,000 after buying an additional 4,046,115 shares in the last quarter. Geode Capital Management LLC boosted its stake in Kraft Heinz by 12.7% during the fourth quarter. Geode Capital Management LLC now owns 8,516,204 shares of the company’s stock worth $366,004,000 after buying an additional 957,359 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Kraft Heinz by 10.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,555,650 shares of the company’s stock worth $79,327,000 after buying an additional 241,985 shares in the last quarter. Swiss National Bank boosted its stake in Kraft Heinz by 6.0% during the second quarter. Swiss National Bank now owns 2,504,963 shares of the company’s stock worth $77,754,000 after buying an additional 142,400 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Kraft Heinz by 0.6% during the first quarter. New York State Common Retirement Fund now owns 1,782,256 shares of the company’s stock worth $58,191,000 after buying an additional 10,716 shares in the last quarter. Institutional investors and hedge funds own 58.06% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Guggenheim downgraded shares of Kraft Heinz from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $29.00 to $25.00 in a research note on Friday, August 9th. Credit Suisse Group set a $26.00 price target on shares of Kraft Heinz and gave the stock a “sell” rating in a research note on Friday, August 9th. BMO Capital Markets decreased their price target on shares of Kraft Heinz from $40.00 to $33.00 and set a “market perform” rating on the stock in a research note on Monday. Evercore ISI assumed coverage on shares of Kraft Heinz in a research note on Tuesday, June 11th. They set an “in-line” rating and a $32.00 price target on the stock. Finally, Wells Fargo & Co set a $29.00 price target on shares of Kraft Heinz and gave the stock a “hold” rating in a research note on Friday, August 9th. Six research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $36.45.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.07 billion. Kraft Heinz had a positive return on equity of 6.89% and a negative net margin of 38.95%. The business’s revenue was down 5.5% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. Equities analysts expect that Kraft Heinz Co will post 2.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.37%. Kraft Heinz’s payout ratio is presently 45.33%.
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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