Insider Selling: Kraft Heinz Co. (KHC) Major Shareholder Sells 2,808,371 Shares of Stock
Kraft Heinz Co. (NASDAQ:KHC) major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the business’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total value of $244,468,695.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Kraft Heinz Co. (NASDAQ:KHC) opened at 87.91 on Thursday. The company’s 50-day moving average price is $88.66 and its 200 day moving average price is $84.14. Kraft Heinz Co. has a 52-week low of $68.18 and a 52-week high of $90.54. The firm has a market capitalization of $107.04 billion, a price-to-earnings ratio of 64.45 and a beta of 0.47.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.14. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $4.70 billion. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The business’s quarterly revenue was up 159.7% compared to the same quarter last year. During the same period last year, the company earned $0.92 EPS. Equities analysts predict that Kraft Heinz Co. will post $3.24 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.73%. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, August 24th. Kraft Heinz’s dividend payout ratio (DPR) is presently 181.82%.
Several analysts have recently weighed in on the company. Sanford C. Bernstein set a $110.00 price objective on Kraft Heinz and gave the company a “buy” rating in a report on Monday, September 12th. Susquehanna cut their price objective on Kraft Heinz from $118.00 to $114.00 and set a “positive” rating for the company in a report on Friday, August 26th. Morgan Stanley cut their price objective on Kraft Heinz from $100.00 to $97.00 and set an “overweight” rating for the company in a report on Wednesday, August 31st. Deutsche Bank AG upgraded Kraft Heinz from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $103.00 in a report on Friday, August 5th. Finally, Zacks Investment Research upgraded Kraft Heinz from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Wednesday, June 29th. Two analysts have rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $98.79.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stearns Financial Services Group raised its position in shares of Kraft Heinz by 0.3% in the first quarter. Stearns Financial Services Group now owns 5,534 shares of the company’s stock worth $435,000 after buying an additional 15 shares during the last quarter. Evanson Asset Management LLC raised its position in shares of Kraft Heinz by 0.5% in the second quarter. Evanson Asset Management LLC now owns 3,011 shares of the company’s stock worth $266,000 after buying an additional 16 shares during the last quarter. Reynders McVeigh Capital Management LLC raised its position in shares of Kraft Heinz by 0.4% in the second quarter. Reynders McVeigh Capital Management LLC now owns 6,238 shares of the company’s stock worth $552,000 after buying an additional 25 shares during the last quarter. Putnam FL Investment Management Co. raised its position in shares of Kraft Heinz by 0.7% in the second quarter. Putnam FL Investment Management Co. now owns 4,240 shares of the company’s stock worth $375,000 after buying an additional 30 shares during the last quarter. Finally, Redmond Asset Management LLC raised its position in shares of Kraft Heinz by 0.8% in the second quarter. Redmond Asset Management LLC now owns 4,192 shares of the company’s stock worth $371,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 61.30% of the company’s stock.
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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