Beese Fulmer Investment Management Inc. reduced its stake in Kraft Heinz Co (NASDAQ:KHC) by 20.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,674 shares of the company’s stock after selling 15,444 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Kraft Heinz were worth $3,686,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Birmingham Capital Management Co. Inc. AL grew its position in Kraft Heinz by 83.7% in the second quarter. Birmingham Capital Management Co. Inc. AL now owns 14,373 shares of the company’s stock worth $903,000 after acquiring an additional 6,550 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Kraft Heinz by 64.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 31,066 shares of the company’s stock worth $1,952,000 after purchasing an additional 12,136 shares during the last quarter. LS Investment Advisors LLC lifted its stake in Kraft Heinz by 84.9% in the second quarter. LS Investment Advisors LLC now owns 40,492 shares of the company’s stock worth $2,544,000 after purchasing an additional 18,598 shares during the last quarter. North Star Investment Management Corp. lifted its stake in Kraft Heinz by 49.4% in the second quarter. North Star Investment Management Corp. now owns 44,253 shares of the company’s stock worth $2,780,000 after purchasing an additional 14,637 shares during the last quarter. Finally, First Command Bank lifted its stake in Kraft Heinz by 78.2% in the second quarter. First Command Bank now owns 4,618 shares of the company’s stock worth $291,000 after purchasing an additional 2,026 shares during the last quarter. 62.39% of the stock is currently owned by hedge funds and other institutional investors.
Kraft Heinz opened at $59.65 on Friday, Marketbeat Ratings reports. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $73.50 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 2.01 and a beta of 0.59. Kraft Heinz Co has a 1-year low of $54.11 and a 1-year high of $87.29.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 17th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.50 annualized dividend and a dividend yield of 4.19%. Kraft Heinz’s dividend payout ratio is currently 70.42%.
A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Saturday. Jefferies Financial Group reissued a “buy” rating and set a $75.00 price objective on shares of Kraft Heinz in a report on Tuesday, August 7th. Bank of America set a $85.00 price target on shares of Kraft Heinz and gave the stock a “buy” rating in a report on Monday, August 6th. Zacks Investment Research downgraded shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Tuesday, July 3rd. Finally, Susquehanna Bancshares set a $58.00 price objective on shares of Kraft Heinz and gave the stock a “hold” rating in a research note on Tuesday, May 22nd. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $75.25.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total value of $1,234,724,292.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Eduardo Pelleissone sold 35,000 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $63.85, for a total transaction of $2,234,750.00. The disclosure for this sale can be found here. Corporate insiders own 26.81% of the company’s stock.
About Kraft Heinz
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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