Gamco Investors INC. ET AL lessened its holdings in Kraft Heinz Co (NASDAQ:KHC) by 81.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,941 shares of the company’s stock after selling 441,514 shares during the period. Gamco Investors INC. ET AL’s holdings in Kraft Heinz were worth $3,164,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Yorktown Management & Research Co Inc bought a new stake in Kraft Heinz during the 2nd quarter valued at $565,000. Whitener Capital Management Inc. raised its holdings in Kraft Heinz by 45.0% during the 2nd quarter. Whitener Capital Management Inc. now owns 2,900 shares of the company’s stock valued at $90,000 after acquiring an additional 900 shares during the period. Capital Wealth Planning LLC bought a new stake in Kraft Heinz during the 2nd quarter valued at $325,000. Pflug Koory LLC raised its holdings in Kraft Heinz by 28.8% during the 2nd quarter. Pflug Koory LLC now owns 4,939 shares of the company’s stock valued at $153,000 after acquiring an additional 1,103 shares during the period. Finally, Swiss National Bank raised its holdings in Kraft Heinz by 6.0% during the 2nd quarter. Swiss National Bank now owns 2,504,963 shares of the company’s stock valued at $77,754,000 after acquiring an additional 142,400 shares during the period. Hedge funds and other institutional investors own 56.61% of the company’s stock.
Shares of NASDAQ:KHC opened at $29.25 on Friday. Kraft Heinz Co has a 52-week low of $24.86 and a 52-week high of $59.36. The firm has a fifty day moving average of $27.76 and a 200 day moving average of $30.70. The firm has a market capitalization of $35.68 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.18.
Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.03. Kraft Heinz had a negative net margin of 43.40% and a positive return on equity of 6.06%. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.07 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Kraft Heinz Co will post 2.65 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.60 annualized dividend and a yield of 5.47%. Kraft Heinz’s payout ratio is 45.33%.
A number of brokerages have issued reports on KHC. Wells Fargo & Co reissued a “hold” rating on shares of Kraft Heinz in a report on Tuesday, September 3rd. BMO Capital Markets lowered their target price on shares of Kraft Heinz from $40.00 to $33.00 and set a “market perform” rating on the stock in a report on Monday, August 12th. Credit Suisse Group set a $26.00 target price on shares of Kraft Heinz and gave the company a “sell” rating in a report on Friday, August 9th. UBS Group set a $30.00 target price on shares of Kraft Heinz and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Morgan Stanley lowered their target price on shares of Kraft Heinz from $32.00 to $29.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $36.05.
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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