Adell Harriman & Carpenter Inc. Lowers Stake in The Kraft Heinz Company (KHC)
Adell Harriman & Carpenter Inc. lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 0.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 28,599 shares of the company’s stock after selling 124 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in The Kraft Heinz were worth $2,449,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. V Wealth Management LLC bought a new position in The Kraft Heinz in the second quarter worth about $125,000. Blue Chip Partners Inc. lifted its position in shares of The Kraft Heinz by 0.5% during the first quarter. Blue Chip Partners Inc. now owns 1,476 shares of the company’s stock valued at $134,000 after buying an additional 8 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of The Kraft Heinz during the first quarter valued at about $136,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of The Kraft Heinz by 7.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,527 shares of the company’s stock valued at $139,000 after buying an additional 100 shares during the last quarter. Finally, Reilly Financial Advisors LLC lifted its position in shares of The Kraft Heinz by 9.0% during the second quarter. Reilly Financial Advisors LLC now owns 1,631 shares of the company’s stock valued at $140,000 after buying an additional 134 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on KHC shares. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price target on shares of The Kraft Heinz in a report on Thursday, September 21st. BidaskClub lowered shares of The Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Credit Suisse Group set a $100.00 price objective on shares of The Kraft Heinz and gave the stock a “buy” rating in a research note on Sunday, September 10th. BMO Capital Markets reissued a “hold” rating and set a $96.00 target price on shares of The Kraft Heinz in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The Kraft Heinz currently has a consensus rating of “Hold” and an average price target of $97.28.
Shares of The Kraft Heinz Company (KHC) opened at 77.85 on Tuesday. The firm has a market capitalization of $94.84 billion, a P/E ratio of 24.95 and a beta of 0.44. The Kraft Heinz Company has a 1-year low of $76.89 and a 1-year high of $97.77. The stock’s 50 day moving average is $79.79 and its 200 day moving average is $79.79.
The Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.73 billion. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. Equities analysts predict that The Kraft Heinz Company will post $3.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.21%. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Wednesday, August 16th. The Kraft Heinz’s dividend payout ratio is 79.87%.
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About The Kraft Heinz
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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