Pacific Grove Capital LP bought a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 44,000 shares of the company’s stock, valued at approximately $3,996,000. The Kraft Heinz comprises about 1.9% of Pacific Grove Capital LP’s holdings, making the stock its 19th largest position.

Several other large investors also recently added to or reduced their stakes in the company. Gemmer Asset Management LLC boosted its position in shares of The Kraft Heinz by 167.9% in the first quarter. Gemmer Asset Management LLC now owns 3,416 shares of the company’s stock worth $310,000 after buying an additional 2,141 shares during the period. Wendell David Associates Inc. boosted its position in shares of The Kraft Heinz by 6.2% in the first quarter. Wendell David Associates Inc. now owns 5,108 shares of the company’s stock worth $464,000 after buying an additional 300 shares during the period. Oakbrook Investments LLC acquired a new position in shares of The Kraft Heinz during the first quarter worth $218,000. City Holding Co. boosted its position in shares of The Kraft Heinz by 12.4% in the first quarter. City Holding Co. now owns 4,980 shares of the company’s stock worth $452,000 after buying an additional 550 shares during the period. Finally, Huntington National Bank boosted its position in shares of The Kraft Heinz by 43.4% in the first quarter. Huntington National Bank now owns 201,242 shares of the company’s stock worth $18,275,000 after buying an additional 60,919 shares during the period. 61.91% of the stock is currently owned by institutional investors and hedge funds.

The Kraft Heinz Company (NASDAQ:KHC) traded down 0.858% during mid-day trading on Monday, hitting $81.891. 589,551 shares of the stock were exchanged. The company has a 50 day moving average price of $85.74 and a 200 day moving average price of $89.47. The stock has a market cap of $99.76 billion, a price-to-earnings ratio of 26.247 and a beta of 0.44. The Kraft Heinz Company has a 52 week low of $79.69 and a 52 week high of $97.77.

The Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The business 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 period in the previous year, the company posted $0.85 EPS. Analysts expect that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be paid a $0.625 dividend. The ex-dividend date is Wednesday, August 16th. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. This represents a $2.50 annualized dividend and a yield of 3.03%. The Kraft Heinz’s payout ratio is 79.87%.

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A number of research analysts have weighed in on the stock. BidaskClub cut shares of 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 price target on shares of The Kraft Heinz and gave the company a “buy” rating in a research report on Saturday, June 3rd. 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. Credit Suisse Group set a $100.00 price target on shares of The Kraft Heinz and gave the company a “buy” rating in a research report on Saturday, August 5th. Finally, Consumer Edge raised shares of The Kraft Heinz to an “overweight” rating in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. The Kraft Heinz has a consensus rating of “Buy” and a consensus target price of $97.31.

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

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