Delta Asset Management LLC TN Lowers Position in The Kraft Heinz Company (KHC)
Delta Asset Management LLC TN decreased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,419 shares of the company’s stock after selling 29 shares during the period. Delta Asset Management LLC TN’s holdings in The Kraft Heinz were worth $464,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Rockefeller Financial Services Inc. raised its stake in shares of The Kraft Heinz by 240.2% in the first quarter. Rockefeller Financial Services Inc. now owns 1,133 shares of the company’s stock valued at $103,000 after buying an additional 800 shares in the last quarter. Bollard Group LLC raised its stake in shares of The Kraft Heinz by 0.7% in the first quarter. Bollard Group LLC now owns 1,149 shares of the company’s stock valued at $104,000 after buying an additional 8 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of The Kraft Heinz during the first quarter valued at $109,000. V Wealth Management LLC bought a new stake in shares of The Kraft Heinz during the second quarter valued at $125,000. Finally, Blue Chip Partners Inc. raised its stake in shares of The Kraft Heinz by 0.5% in 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 in the last quarter. 61.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of The Kraft Heinz Company (NASDAQ KHC) traded up 0.39% on Monday, reaching $86.81. The company had a trading volume of 821,928 shares. The company has a 50-day moving average price of $86.07 and a 200-day moving average price of $89.76. The Kraft Heinz Company has a one year low of $79.69 and a one year high of $97.77. The firm has a market cap of $105.76 billion, a P/E ratio of 27.82 and a beta of 0.44.
The Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.73 billion. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 earnings per share. On average, analysts expect that The Kraft Heinz Company will post $3.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be given a dividend of $0.625 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. The Kraft Heinz’s payout ratio is presently 76.68%.
Several brokerages have weighed in on KHC. BidaskClub lowered The Kraft Heinz from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada set a $96.00 target price on The Kraft Heinz and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Credit Suisse Group set a $100.00 target price on The Kraft Heinz and gave the stock a “buy” rating in a research report on Saturday, August 5th. Consumer Edge raised The Kraft Heinz to an “overweight” rating in a research report on Thursday, May 4th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $99.00 target price (down from $102.00) on shares of The Kraft Heinz in a research report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $97.45.
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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