Centaurus Financial Inc. boosted its position in The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 41.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,809 shares of the company's stock after buying an additional 1,113 shares during the period. Centaurus Financial Inc.'s holdings in Kraft Heinz were worth $145,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Lincoln National Corp raised its holdings in shares of Kraft Heinz by 10.3% during the second quarter. Lincoln National Corp now owns 23,080 shares of the company's stock valued at $880,000 after purchasing an additional 2,161 shares during the period. MUFG Americas Holdings Corp raised its holdings in shares of Kraft Heinz by 4.7% during the second quarter. MUFG Americas Holdings Corp now owns 15,314 shares of the company's stock valued at $584,000 after purchasing an additional 686 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Kraft Heinz by 1,865.4% during the second quarter. First Horizon Advisors Inc. now owns 323,159 shares of the company's stock valued at $12,325,000 after purchasing an additional 306,717 shares during the period. Cabot Wealth Management Inc. raised its holdings in shares of Kraft Heinz by 3.7% during the second quarter. Cabot Wealth Management Inc. now owns 132,181 shares of the company's stock valued at $5,041,000 after purchasing an additional 4,728 shares during the period. Finally, Graypoint LLC raised its holdings in shares of Kraft Heinz by 1.4% during the second quarter. Graypoint LLC now owns 24,139 shares of the company's stock valued at $921,000 after purchasing an additional 323 shares during the period. Institutional investors and hedge funds own 67.03% of the company's stock.
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Analyst Ratings Changes
Several equities analysts have recently weighed in on KHC shares. Piper Sandler dropped their price objective on shares of Kraft Heinz to $41.00 in a report on Wednesday, October 5th. Mizuho started coverage on shares of Kraft Heinz in a research report on Monday, July 18th. They set a "buy" rating and a $48.00 target price for the company. TheStreet downgraded shares of Kraft Heinz from a "b" rating to a "c+" rating in a research report on Monday, September 19th. UBS Group raised shares of Kraft Heinz from a "sell" rating to a "neutral" rating and set a $34.00 target price for the company in a research report on Thursday, September 29th. Finally, StockNews.com started coverage on shares of Kraft Heinz in a research report on Wednesday, October 12th. They set a "hold" rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $41.00.
Kraft Heinz Trading Down 0.6 %
Shares of KHC stock opened at $35.13 on Monday. The Kraft Heinz Company has a 52-week low of $32.73 and a 52-week high of $44.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.52 and a current ratio of 0.89. The company has a 50-day simple moving average of $35.91 and a two-hundred day simple moving average of $38.14. The company has a market capitalization of $43.05 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 2.65 and a beta of 0.73.
Kraft Heinz (NASDAQ:KHC – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.03. Kraft Heinz had a net margin of 5.92% and a return on equity of 6.82%. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same period in the prior year, the firm posted $0.78 EPS. The firm's quarterly revenue was down .9% compared to the same quarter last year. Research analysts anticipate that The Kraft Heinz Company will post 2.66 EPS for the current fiscal year.
Kraft Heinz Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, August 26th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date was Thursday, August 25th. Kraft Heinz's dividend payout ratio is currently 131.15%.
Insider Activity
In other news, VP Vince Garlati sold 19,938 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $38.43, for a total transaction of $766,217.34. Following the completion of the transaction, the vice president now directly owns 94,843 shares of the company's stock, valued at approximately $3,644,816.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Vince Garlati sold 19,938 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $38.43, for a total transaction of $766,217.34. Following the completion of the transaction, the vice president now directly owns 94,843 shares of the company's stock, valued at approximately $3,644,816.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lande Rashida La sold 30,000 shares of the company's stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $38.36, for a total transaction of $1,150,800.00. Following the sale, the chief accounting officer now owns 223,062 shares in the company, valued at $8,556,658.32. The disclosure for this sale can be found here. Insiders sold 53,438 shares of company stock valued at $2,044,977 in the last three months. Company insiders own 1.40% of the company's stock.
Kraft Heinz Company Profile
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The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.
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