Hi Line Capital Management LLC purchased a new stake in Kraft Heinz Co (NASDAQ:KHC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 71,173 shares of the company’s stock, valued at approximately $2,209,000. Kraft Heinz makes up about 1.0% of Hi Line Capital Management LLC’s portfolio, making the stock its 24th biggest position.
Other large investors have also recently modified their holdings of the company. Meridian Wealth Management LLC acquired a new position in Kraft Heinz during the first quarter worth $27,000. Putnam FL Investment Management Co. bought a new stake in shares of Kraft Heinz in the second quarter valued at about $27,000. Zions Bancorporation N.A. boosted its position in shares of Kraft Heinz by 303.4% in the second quarter. Zions Bancorporation N.A. now owns 960 shares of the company’s stock valued at $30,000 after acquiring an additional 722 shares during the period. Atlas Capital Advisors LLC bought a new stake in shares of Kraft Heinz in the second quarter valued at about $31,000. Finally, Horrell Capital Management Inc. bought a new stake in shares of Kraft Heinz in the second quarter valued at about $31,000. Institutional investors and hedge funds own 56.61% of the company’s stock.
Kraft Heinz stock opened at $29.14 on Friday. The stock has a market capitalization of $35.68 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 2.42 and a beta of 0.77. Kraft Heinz Co has a 52-week low of $24.86 and a 52-week high of $59.91. The stock’s 50 day moving average price is $27.81 and its two-hundred day moving average price is $30.73. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.18.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.07 billion. Kraft Heinz had a positive return on equity of 6.06% and a negative net margin of 43.40%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. On average, equities research analysts forecast that Kraft Heinz Co will post 2.65 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date of this dividend is Tuesday, August 20th. Kraft Heinz’s payout ratio is 45.33%.
A number of equities research analysts have recently issued reports on the stock. Barclays set a $30.00 target price on shares of Kraft Heinz and gave the company a “hold” rating in a research report on Friday, August 9th. Guggenheim set a $25.00 target price on shares of Kraft Heinz and gave the stock a “sell” rating in a report on Monday, August 26th. UBS Group set a $30.00 target price on shares of Kraft Heinz and gave the stock a “hold” rating in a report on Friday, August 9th. Wells Fargo & Co reissued a “hold” rating on shares of Kraft Heinz in a report on Tuesday, September 3rd. Finally, Bank of America set a $32.00 target price on shares of Kraft Heinz and gave the stock a “neutral” rating in a report on Friday, August 9th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $36.05.
Kraft Heinz Company 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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