P.A.W. Capital Corp grew its position in Kraft Heinz Co (NASDAQ:KHC) by 100.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. P.A.W. Capital Corp’s holdings in Kraft Heinz were worth $621,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in KHC. Northwestern Mutual Investment Management Company LLC increased its stake in Kraft Heinz by 36.7% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 94,503 shares of the company’s stock worth $3,086,000 after buying an additional 25,381 shares during the period. Cypress Wealth Advisors LLC increased its stake in Kraft Heinz by 11.3% in the 1st quarter. Cypress Wealth Advisors LLC now owns 7,415 shares of the company’s stock worth $242,000 after buying an additional 751 shares during the period. CWM LLC increased its stake in Kraft Heinz by 58.3% in the 1st quarter. CWM LLC now owns 3,443 shares of the company’s stock worth $112,000 after buying an additional 1,268 shares during the period. Investec Asset Management LTD purchased a new position in Kraft Heinz in the 1st quarter worth about $342,000. Finally, AMG National Trust Bank increased its stake in Kraft Heinz by 5.8% in the 1st quarter. AMG National Trust Bank now owns 103,978 shares of the company’s stock worth $3,395,000 after buying an additional 5,727 shares during the period. 58.00% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on KHC. Zacks Investment Research raised shares of Kraft Heinz from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 24th. BMO Capital Markets reduced their price target on shares of Kraft Heinz from $40.00 to $33.00 and set a “market perform” rating on the stock in a research note on Monday. Bank of America reduced their price target on shares of Kraft Heinz from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday. Guggenheim downgraded shares of Kraft Heinz from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $29.00 to $25.00 in a research note on Friday. Finally, Credit Suisse Group reaffirmed a “sell” rating and issued a $26.00 price target on shares of Kraft Heinz in a research note on Tuesday, July 2nd. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.66.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. Kraft Heinz had a negative net margin of 38.95% and a positive return on equity of 6.89%. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.07 billion. During the same period last year, the business earned $0.90 EPS. The company’s revenue was down 5.5% compared to the same quarter last year. As a group, sell-side analysts expect that Kraft Heinz Co will post 2.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date is Tuesday, August 20th. Kraft Heinz’s dividend payout ratio is currently 45.33%.
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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