Venturi Wealth Management LLC boosted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 8.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,819 shares of the company’s stock after buying an additional 7,309 shares during the period. The Kraft Heinz comprises 2.0% of Venturi Wealth Management LLC’s investment portfolio, making the stock its 8th largest position. Venturi Wealth Management LLC’s holdings in The Kraft Heinz were worth $8,493,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in KHC. Gateway Investment Advisers LLC increased its position in The Kraft Heinz by 5.2% in the first quarter. Gateway Investment Advisers LLC now owns 378,339 shares of the company’s stock worth $34,357,000 after buying an additional 18,748 shares during the period. Tiedemann Wealth Management LLC increased its position in The Kraft Heinz by 6.4% in the first quarter. Tiedemann Wealth Management LLC now owns 47,256 shares of the company’s stock worth $4,291,000 after buying an additional 2,861 shares during the period. Cape Cod Five Cents Savings Bank increased its position in 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 worth $427,000 after buying an additional 399 shares during the period. Ibex Wealth Advisors increased its position in The Kraft Heinz by 7.7% in the fourth quarter. Ibex Wealth Advisors now owns 16,947 shares of the company’s stock worth $1,507,000 after buying an additional 1,215 shares during the period. Finally, Pillar Pacific Capital Management LLC increased its position in The Kraft Heinz by 7.6% in the first quarter. Pillar Pacific Capital Management LLC now owns 3,693 shares of the company’s stock worth $335,000 after buying an additional 262 shares during the period. 61.88% of the stock is currently owned by institutional investors.
Shares of The Kraft Heinz Company (KHC) traded down 0.73% on Friday, reaching $84.49. 2,833,525 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $85.82 and its 200 day moving average price is $89.65. The Kraft Heinz Company has a 12 month low of $79.69 and a 12 month high of $97.77. The company has a market cap of $102.93 billion, a price-to-earnings ratio of 27.08 and a beta of 0.44.
The Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.02. The company had revenue of $6.68 billion for the quarter, compared to analysts’ expectations 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 revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. Equities research analysts predict that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.50 annualized dividend and a yield of 2.96%. This is a boost 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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A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada set a $96.00 price target on shares of The Kraft Heinz and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Piper Jaffray Companies set a $92.00 target price on shares of The Kraft Heinz and gave the stock a “hold” rating in a research report on Wednesday. Zacks Investment Research raised shares of The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $85.00 target price (down from $94.00) on shares of The Kraft Heinz in a research report on Wednesday, August 9th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $99.00 target price (down from $102.00) on shares of The Kraft Heinz in a research report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” 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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