Greenleaf Trust Acquires 416 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Greenleaf Trust lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,494 shares of the company’s stock after purchasing an additional 416 shares during the quarter. Greenleaf Trust’s holdings in The Kraft Heinz were worth $265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital International Investors raised its holdings in shares of The Kraft Heinz by 42.2% during the first quarter. Capital International Investors now owns 12,255,988 shares of the company’s stock worth $490,240,000 after acquiring an additional 3,638,125 shares during the period. BlackRock Inc. raised its holdings in shares of The Kraft Heinz by 4.9% during the first quarter. BlackRock Inc. now owns 44,451,749 shares of the company’s stock worth $1,778,069,000 after acquiring an additional 2,073,897 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of The Kraft Heinz by 307.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,064,597 shares of the company’s stock worth $82,584,000 after acquiring an additional 1,558,409 shares during the period. Morgan Stanley raised its holdings in shares of The Kraft Heinz by 17.8% during the first quarter. Morgan Stanley now owns 5,231,800 shares of the company’s stock worth $209,273,000 after acquiring an additional 790,364 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of The Kraft Heinz by 115.6% during the first quarter. Canada Pension Plan Investment Board now owns 1,029,288 shares of the company’s stock worth $41,172,000 after acquiring an additional 551,824 shares during the period. 61.25% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on KHC. Morgan Stanley began coverage on shares of The Kraft Heinz in a research note on Tuesday. They issued a “hold” rating and a $37.00 price target on the stock. Credit Suisse Group lowered their price target on shares of The Kraft Heinz from $38.00 to $33.00 and set an “underperform” rating on the stock in a research note on Thursday, August 5th. Piper Sandler lowered their price target on shares of The Kraft Heinz from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, August 20th. Finally, Zacks Investment Research lowered shares of The Kraft Heinz from a “hold” rating to a “sell” rating and set a $43.00 price target on the stock. in a research note on Wednesday, June 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, The Kraft Heinz currently has a consensus rating of “Hold” and a consensus price target of $38.90.

Shares of KHC stock opened at $35.94 on Wednesday. The company has a market capitalization of $43.97 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.70 and a beta of 1.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.15. The company has a 50-day simple moving average of $37.40 and a 200 day simple moving average of $39.93. The Kraft Heinz Company has a 52 week low of $28.56 and a 52 week high of $44.95.

The Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, August 4th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.55 billion. The Kraft Heinz had a net margin of 8.20% and a return on equity of 7.34%. The Kraft Heinz’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. Sell-side analysts forecast that The Kraft Heinz Company will post 2.69 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Wednesday, September 1st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date is Tuesday, August 31st. The Kraft Heinz’s dividend payout ratio is currently 55.56%.

In other The Kraft Heinz news, insider Marcos Eloi Lima sold 41,929 shares of the business’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $36.44, for a total value of $1,527,892.76. Following the completion of the sale, the insider now owns 191,620 shares of the company’s stock, valued at approximately $6,982,632.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

About The Kraft Heinz

The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015 and is headquartered in Pittsburgh, PA.

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Institutional Ownership by Quarter for The Kraft Heinz (NASDAQ:KHC)

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