The Kraft Heinz Company (KHC) Shares Bought by Credit Suisse AG
Credit Suisse AG raised its stake in The Kraft Heinz Company (NASDAQ:KHC) by 9.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,669,696 shares of the company’s stock after buying an additional 142,668 shares during the period. Credit Suisse AG owned about 0.14% of The Kraft Heinz worth $151,624,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Oakbrook Investments LLC acquired a new position in shares of The Kraft Heinz during the first quarter valued at approximately $218,000. State of Alaska Department of Revenue acquired a new position in shares of The Kraft Heinz during the first quarter valued at approximately $243,000. Windward Capital Management Co. CA increased its position in shares of The Kraft Heinz by 23.0% in the first quarter. Windward Capital Management Co. CA now owns 8,175 shares of the company’s stock valued at $742,000 after buying an additional 1,527 shares in the last quarter. Navellier & Associates Inc increased its position in shares of The Kraft Heinz by 10.7% in the first quarter. Navellier & Associates Inc now owns 21,160 shares of the company’s stock valued at $1,922,000 after buying an additional 2,038 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank increased its position in shares of The Kraft Heinz by 9.3% in the first quarter. Cape Cod Five Cents Savings Bank now owns 4,698 shares of the company’s stock valued at $427,000 after buying an additional 399 shares in the last quarter. Institutional investors own 61.91% of the company’s stock.
Shares of The Kraft Heinz Company (NASDAQ KHC) traded up 0.07% during trading on Wednesday, reaching $81.50. The company’s stock had a trading volume of 1,388,143 shares. The stock has a 50-day moving average of $85.74 and a 200-day moving average of $89.47. The stock has a market cap of $99.29 billion, a P/E ratio of 26.12 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 issued its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate 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 net margin of 14.67% and a return on equity of 7.52%. The Kraft Heinz’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. Analysts predict 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. Investors of record on Friday, August 18th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.50 annualized dividend and a yield of 3.07%. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. The Kraft Heinz’s dividend payout ratio is currently 79.87%.
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KHC has been the subject of several research analyst reports. Zacks Investment Research upgraded The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Consumer Edge upgraded The Kraft Heinz to an “overweight” rating in a research note on Thursday, May 4th. Piper Jaffray Companies initiated coverage on The Kraft Heinz in a research note on Wednesday, May 24th. They set a “neutral” rating and a $94.00 target price for the company. Royal Bank Of Canada set a $96.00 target price on The Kraft Heinz and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Finally, Berenberg Bank initiated coverage on The Kraft Heinz in a research note on Wednesday, June 7th. They set a “buy” rating and a $102.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $97.31.
The Kraft Heinz Company Profile
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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