ARS Investment Partners LLC Trims Stake in The Kraft Heinz Company (KHC)
ARS Investment Partners LLC trimmed its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,754 shares of the company’s stock after selling 549 shares during the period. ARS Investment Partners LLC’s holdings in The Kraft Heinz were worth $1,692,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in The Kraft Heinz by 3.9% in the first quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock worth $3,827,601,000 after purchasing an additional 1,585,231 shares during the period. BlackRock Inc. raised its holdings in The Kraft Heinz by 2,314.8% during the 1st quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock worth $2,956,129,000 after purchasing an additional 31,204,852 shares during the last quarter. State Street Corp raised its holdings in The Kraft Heinz by 2.8% during the 1st quarter. State Street Corp now owns 24,579,995 shares of the company’s stock worth $2,232,113,000 after purchasing an additional 680,941 shares during the last quarter. FMR LLC raised its holdings in The Kraft Heinz by 9.8% during the 1st quarter. FMR LLC now owns 8,856,976 shares of the company’s stock worth $804,302,000 after purchasing an additional 790,267 shares during the last quarter. Finally, Morgan Stanley raised its holdings in The Kraft Heinz by 55.6% during the 1st quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock worth $759,605,000 after purchasing an additional 2,988,664 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.
Shares of The Kraft Heinz Company (NASDAQ KHC) opened at 77.55 on Monday. The Kraft Heinz Company has a 12-month low of $77.40 and a 12-month high of $97.77. The firm has a market capitalization of $94.48 billion, a price-to-earnings ratio of 24.86 and a beta of 0.44. The firm has a 50-day moving average of $81.65 and a 200 day moving average of $81.65.
The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The company had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The business’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts expect that The Kraft Heinz Company will post $3.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were paid a $0.625 dividend. This is a positive change from The Kraft Heinz’s previous quarterly dividend of $0.60. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Wednesday, August 16th. The Kraft Heinz’s payout ratio is currently 79.87%.
A number of research firms have issued reports on KHC. Berenberg Bank began coverage on shares of The Kraft Heinz in a research report on Wednesday, June 7th. They set a “buy” rating and a $102.00 target price on the stock. Susquehanna Bancshares Inc set a $99.00 target price on shares of The Kraft Heinz and gave the company a “hold” rating in a research note on Tuesday, June 6th. BMO Capital Markets reiterated a “hold” rating and set a $96.00 price target on shares of The Kraft Heinz in a research report on Thursday, June 15th. BidaskClub cut shares of The Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $99.00 price target (down from $102.00) on shares of The Kraft Heinz in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $97.28.
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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