Pennsylvania Trust Co Has $2.36 Million Stake in Kraft Heinz Co (KHC)
Pennsylvania Trust Co lessened its holdings in shares of Kraft Heinz Co (NASDAQ:KHC) by 9.9% during the 3rd quarter, Holdings Channel reports. The fund owned 42,808 shares of the company’s stock after selling 4,699 shares during the quarter. Pennsylvania Trust Co’s holdings in Kraft Heinz were worth $2,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of KHC. Baird Financial Group Inc. lifted its stake in shares of Kraft Heinz by 4.5% during the 1st quarter. Baird Financial Group Inc. now owns 96,730 shares of the company’s stock valued at $6,025,000 after buying an additional 4,181 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of Kraft Heinz by 9.2% during the 1st quarter. Blair William & Co. IL now owns 87,029 shares of the company’s stock valued at $5,421,000 after buying an additional 7,357 shares in the last quarter. United Capital Financial Advisers LLC lifted its stake in shares of Kraft Heinz by 41.6% during the 1st quarter. United Capital Financial Advisers LLC now owns 104,785 shares of the company’s stock valued at $6,527,000 after buying an additional 30,761 shares in the last quarter. Natixis purchased a new position in shares of Kraft Heinz during the 1st quarter valued at $22,242,000. Finally, Ancora Advisors LLC lifted its stake in shares of Kraft Heinz by 10.1% during the 1st quarter. Ancora Advisors LLC now owns 72,321 shares of the company’s stock valued at $4,505,000 after buying an additional 6,625 shares in the last quarter. Institutional investors and hedge funds own 62.82% of the company’s stock.
In other news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total value of $1,234,724,292.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Eduardo Pelleissone sold 35,000 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $63.85, for a total transaction of $2,234,750.00. The disclosure for this sale can be found here. Insiders own 26.81% of the company’s stock.
Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Friday, August 3rd. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. Kraft Heinz had a net margin of 40.85% and a return on equity of 6.16%. The firm had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the previous year, the firm posted $0.98 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts forecast that Kraft Heinz Co will post 3.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 17th were issued a $0.625 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.49%. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.42%.
A number of brokerages have issued reports on KHC. BidaskClub upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group upgraded shares of Kraft Heinz to a “hold” rating and set a $52.00 price target on the stock in a report on Thursday, October 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price target on shares of Kraft Heinz in a report on Tuesday, August 7th. Finally, Bank of America set a $85.00 price target on shares of Kraft Heinz and gave the company a “buy” rating in a report on Monday, August 6th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $72.02.
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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