King Luther Capital Management Corp lifted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 8.1% during the second quarter, HoldingsChannel reports. The firm owned 1,632,546 shares of the company’s stock after acquiring an additional 122,792 shares during the quarter. King Luther Capital Management Corp’s holdings in Kraft Heinz were worth $57,955,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. WealthPLAN Partners LLC bought a new position in shares of Kraft Heinz during the first quarter worth about $25,000. Sound Income Strategies LLC boosted its stake in shares of Kraft Heinz by 436.2% during the 2nd quarter. Sound Income Strategies LLC now owns 740 shares of the company’s stock worth $26,000 after acquiring an additional 602 shares during the period. Ancora Advisors LLC boosted its stake in shares of Kraft Heinz by 69.9% during the 1st quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock worth $26,000 after acquiring an additional 272 shares during the period. Sanctuary Wealth Management L.L.C. bought a new position in shares of Kraft Heinz during the 2nd quarter worth approximately $27,000. Finally, Beacon Capital Management LLC boosted its stake in shares of Kraft Heinz by 49.0% during the 2nd quarter. Beacon Capital Management LLC now owns 876 shares of the company’s stock worth $31,000 after acquiring an additional 288 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.
Analyst Ratings Changes
Several research firms recently weighed in on KHC. Piper Sandler lifted their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, November 2nd. Sanford C. Bernstein raised Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Tuesday, November 14th. Morgan Stanley dropped their price target on Kraft Heinz from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, November 2nd. TD Cowen began coverage on Kraft Heinz in a report on Wednesday, September 13th. They set a “market perform” rating and a $35.00 price target for the company. Finally, Bank of America dropped their price target on Kraft Heinz from $48.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.50.
Kraft Heinz Price Performance
Shares of KHC traded down $0.10 during midday trading on Monday, hitting $33.56. The company’s stock had a trading volume of 467,428 shares, compared to its average volume of 7,266,332. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $42.80. The company’s fifty day simple moving average is $32.85 and its two-hundred day simple moving average is $35.03. 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 stock has a market capitalization of $41.16 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. The business had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.70 billion. Kraft Heinz had a return on equity of 7.63% and a net margin of 11.00%. Kraft Heinz’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. As a group, equities analysts expect that The Kraft Heinz Company will post 2.96 earnings per share for the current fiscal year.
Kraft Heinz Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.77%. Kraft Heinz’s dividend payout ratio is currently 66.12%.
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.
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