Welch Group LLC Purchases 81 Shares of The Kraft Heinz Company (KHC)
Welch Group LLC raised its position in The Kraft Heinz Company (NASDAQ:KHC) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,654 shares of the company’s stock after purchasing an additional 81 shares during the quarter. Welch Group LLC’s holdings in The Kraft Heinz were worth $655,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAM Holding AG raised its stake in shares of The Kraft Heinz by 0.6% in the 2nd quarter. GAM Holding AG now owns 62,422 shares of the company’s stock valued at $5,346,000 after purchasing an additional 367 shares during the period. Analyst IMS Investment Management Services Ltd. raised its stake in shares of The Kraft Heinz by 93.0% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 5,500 shares of the company’s stock valued at $472,000 after purchasing an additional 2,650 shares during the period. Alethea Capital Management LLC acquired a new stake in shares of The Kraft Heinz in the 2nd quarter valued at about $570,000. RiverPoint Capital Management LLC raised its stake in shares of The Kraft Heinz by 2.1% in the 2nd quarter. RiverPoint Capital Management LLC now owns 5,922 shares of the company’s stock valued at $507,000 after purchasing an additional 124 shares during the period. Finally, Boston Family Office LLC raised its stake in shares of The Kraft Heinz by 4.1% in the 2nd quarter. Boston Family Office LLC now owns 14,039 shares of the company’s stock valued at $1,202,000 after purchasing an additional 555 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.
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Several analysts have issued reports on the company. Berenberg Bank assumed coverage on The Kraft Heinz in a research note on Wednesday, June 7th. They issued a “buy” rating and a $102.00 price target on the stock. BMO Capital Markets restated a “hold” rating and issued a $96.00 price objective on shares of The Kraft Heinz in a report on Thursday, June 15th. BidaskClub cut The Kraft Heinz from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Credit Suisse Group set a $100.00 price objective on The Kraft Heinz and gave the company a “buy” rating in a report on Saturday, July 29th. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a $99.00 price objective (down previously from $102.00) on shares of The Kraft Heinz in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $96.53.
The Kraft Heinz Company (KHC) opened at 77.77 on Thursday. The company has a market cap of $94.74 billion, a PE ratio of 24.93 and a beta of 0.44. The company’s 50-day moving average price is $79.57 and its 200-day moving average price is $79.57. The Kraft Heinz Company has a 12-month low of $76.76 and a 12-month high of $97.77.
The Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.02. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%. The company had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. Equities analysts anticipate that The Kraft Heinz Company will post $3.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Wednesday, August 16th. This is a positive change from The Kraft Heinz’s previous quarterly dividend of $0.60. The Kraft Heinz’s dividend payout ratio is currently 79.87%.
The Kraft Heinz 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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