The Kraft Heinz Company (NASDAQ:KHC) Position Held by Cedar Wealth Management LLC
Cedar Wealth Management LLC maintained its stake in The Kraft Heinz Company (NASDAQ:KHC) during the second quarter, Holdings Channel reports. The institutional investor owned 10,694 shares of the company’s stock at the end of the second quarter. The Kraft Heinz makes up approximately 0.6% of Cedar Wealth Management LLC’s investment portfolio, making the stock its 12th largest position. Cedar Wealth Management LLC’s holdings in The Kraft Heinz were worth $916,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in The Kraft Heinz by 3.9% in the first quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock worth $3,827,601,000 after buying an additional 1,585,231 shares in the last quarter. BlackRock Inc. increased its stake in The Kraft Heinz by 2,314.8% in the first quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock worth $2,956,129,000 after buying an additional 31,204,852 shares in the last quarter. State Street Corp increased its stake in The Kraft Heinz by 2.8% in the first quarter. State Street Corp now owns 24,579,995 shares of the company’s stock worth $2,232,113,000 after buying an additional 680,941 shares in the last quarter. FMR LLC increased its stake in The Kraft Heinz by 9.8% in the first quarter. FMR LLC now owns 8,856,976 shares of the company’s stock worth $804,302,000 after buying an additional 790,267 shares in the last quarter. Finally, Morgan Stanley increased its stake in The Kraft Heinz by 55.6% in the first quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock worth $759,605,000 after buying an additional 2,988,664 shares in the last quarter. Institutional investors own 62.01% of the company’s stock.
Shares of The Kraft Heinz Company (NASDAQ:KHC) traded up 0.68% on Friday, hitting $86.47. The company had a trading volume of 2,539,485 shares. The Kraft Heinz Company has a 52 week low of $79.69 and a 52 week high of $97.77. The stock’s 50-day moving average is $86.07 and its 200 day moving average is $89.76. The company has a market capitalization of $105.34 billion, a price-to-earnings ratio of 27.71 and a beta of 0.44.
The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The company had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period last year, the company earned $0.85 earnings per share. The Kraft Heinz’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts expect that The Kraft Heinz Company will post $3.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be issued a $0.625 dividend. This is a positive change from The Kraft Heinz’s previous quarterly dividend of $0.60. This represents a $2.50 annualized dividend and a yield of 2.89%. The ex-dividend date is Wednesday, August 16th. The Kraft Heinz’s dividend payout ratio (DPR) is presently 76.68%.
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A number of equities research analysts have issued reports on KHC shares. Credit Suisse Group restated an “outperform” rating on shares of The Kraft Heinz in a research note on Sunday, April 23rd. Zacks Investment Research upgraded The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. BidaskClub downgraded The Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. BMO Capital Markets restated a “hold” rating and set a $96.00 price target on shares of The Kraft Heinz in a research note on Thursday, June 15th. Finally, Susquehanna Bancshares Inc set a $99.00 price target on The Kraft Heinz and gave the company a “hold” rating in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $97.45.
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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