Summit X LLC Has $225,000 Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Summit X LLC lifted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 21.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,342 shares of the company’s stock after buying an additional 1,123 shares during the period. Summit X LLC’s holdings in Kraft Heinz were worth $225,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Kraft Heinz by 98,074.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 52,181,724 shares of the company’s stock worth $1,852,451,000 after acquiring an additional 52,128,572 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Kraft Heinz by 1,835.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock worth $794,964,000 after purchasing an additional 18,518,584 shares during the last quarter. BlackRock Inc. increased its holdings in Kraft Heinz by 10.4% in the first quarter. BlackRock Inc. now owns 76,422,467 shares of the company’s stock valued at $2,955,257,000 after purchasing an additional 7,196,843 shares during the period. Capital World Investors lifted its holdings in Kraft Heinz by 96.5% during the 1st quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock worth $524,360,000 after buying an additional 6,537,000 shares during the period. Finally, Norges Bank bought a new stake in shares of Kraft Heinz in the 4th quarter valued at about $252,224,000. 75.39% of the stock is currently owned by institutional investors.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $33.56 on Thursday. The stock’s 50 day moving average is $32.81 and its 200-day moving average is $35.15. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $42.80. The company has a quick ratio of 0.52, a current ratio of 1.00 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $41.16 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.42 and a beta of 0.69.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.06. Kraft Heinz had a net margin of 11.00% and a return on equity of 7.63%. The firm had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. Sell-side analysts forecast that The Kraft Heinz Company will post 2.96 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.77%. Kraft Heinz’s dividend payout ratio is presently 66.12%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays cut their price objective on Kraft Heinz from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 12th. Bank of America reduced their price objective on shares of Kraft Heinz from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Sanford C. Bernstein upgraded shares of Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Tuesday. Morgan Stanley dropped their target price on shares of Kraft Heinz from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Finally, StockNews.com started coverage on Kraft Heinz in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.50.

About Kraft Heinz

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.