Newport Trust Co Increases Stock Position in Kraft Heinz Co (NASDAQ:KHC)
Newport Trust Co boosted its stake in Kraft Heinz Co (NASDAQ:KHC) by 14,858.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,788,421 shares of the company’s stock after purchasing an additional 4,756,410 shares during the quarter. Kraft Heinz comprises approximately 0.4% of Newport Trust Co’s portfolio, making the stock its 23rd biggest holding. Newport Trust Co’s holdings in Kraft Heinz were worth $133,765,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. raised its stake in shares of Kraft Heinz by 22.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 654,151 shares of the company’s stock worth $21,358,000 after acquiring an additional 121,281 shares in the last quarter. Thomasville National Bank purchased a new position in shares of Kraft Heinz during the second quarter worth approximately $1,114,000. RK Asset Management LLC raised its stake in shares of Kraft Heinz by 4.1% during the second quarter. RK Asset Management LLC now owns 139,356 shares of the company’s stock worth $4,326,000 after acquiring an additional 5,520 shares in the last quarter. DNB Asset Management AS raised its stake in shares of Kraft Heinz by 2.8% during the second quarter. DNB Asset Management AS now owns 84,308 shares of the company’s stock worth $2,617,000 after acquiring an additional 2,335 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its stake in shares of Kraft Heinz by 66.1% during the second quarter. Foundations Investment Advisors LLC now owns 34,274 shares of the company’s stock worth $1,071,000 after acquiring an additional 13,637 shares in the last quarter. 56.67% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on the stock. Piper Jaffray Companies set a $33.00 price target on shares of Kraft Heinz and gave the stock a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Co reissued a “hold” rating on shares of Kraft Heinz in a research note on Tuesday, September 3rd. Bank of America set a $32.00 price target on shares of Kraft Heinz and gave the stock a “neutral” rating in a research note on Friday, August 9th. Credit Suisse Group set a $26.00 price target on shares of Kraft Heinz and gave the stock a “sell” rating in a research note on Friday, August 9th. Finally, Morgan Stanley decreased their price target on shares of Kraft Heinz from $32.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $34.16.
Shares of NASDAQ KHC traded up $0.13 during mid-day trading on Friday, hitting $32.85. The stock had a trading volume of 4,422,700 shares, compared to its average volume of 9,605,735. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.65 and a current ratio of 1.00. Kraft Heinz Co has a 1 year low of $24.86 and a 1 year high of $54.87. The business has a 50 day moving average price of $28.58 and a two-hundred day moving average price of $29.56. The firm has a market cap of $40.19 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 2.63 and a beta of 0.80.
Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Thursday, October 31st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.54 by $0.15. Kraft Heinz had a negative net margin of 42.85% and a positive return on equity of 6.23%. The company had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $6.13 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. Equities research analysts predict that Kraft Heinz Co will post 2.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Thursday, November 14th. Kraft Heinz’s dividend payout ratio (DPR) is currently 45.33%.
Kraft Heinz Profile
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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