Newport Trust Co Has $133.77 Million Stock Holdings in Kraft Heinz Co (NASDAQ:KHC)

Newport Trust Co increased its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 14,858.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,788,421 shares of the company’s stock after purchasing an additional 4,756,410 shares during the quarter. Kraft Heinz makes up about 0.4% of Newport Trust Co’s portfolio, making the stock its 23rd largest holding. Newport Trust Co owned about 0.39% of Kraft Heinz worth $133,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its holdings in Kraft Heinz by 46.3% during the 3rd quarter. SRS Capital Advisors Inc. now owns 1,030 shares of the company’s stock worth $29,000 after acquiring an additional 326 shares during the last quarter. AGF Investments America Inc. grew its holdings in Kraft Heinz by 1.8% during the 2nd quarter. AGF Investments America Inc. now owns 19,364 shares of the company’s stock worth $601,000 after acquiring an additional 350 shares during the last quarter. Investment Management of Virginia LLC grew its holdings in Kraft Heinz by 5.3% during the 2nd quarter. Investment Management of Virginia LLC now owns 7,006 shares of the company’s stock worth $217,000 after acquiring an additional 350 shares during the last quarter. Close Asset Management Ltd grew its holdings in Kraft Heinz by 6.4% during the 2nd quarter. Close Asset Management Ltd now owns 6,003 shares of the company’s stock worth $186,000 after acquiring an additional 360 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Kraft Heinz by 51.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,107 shares of the company’s stock valued at $35,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 56.67% of the company’s stock.

KHC has been the topic of several research analyst reports. BMO Capital Markets increased their target price on shares of Kraft Heinz to $37.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Morgan Stanley lowered their price objective on shares of Kraft Heinz from $32.00 to $29.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd. ValuEngine upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays set a $32.00 price objective on shares of Kraft Heinz and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Bank of America set a $32.00 price objective on shares of Kraft Heinz and gave the stock a “neutral” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $34.16.

Shares of KHC stock traded up $0.13 on Friday, hitting $32.85. The stock had a trading volume of 4,422,700 shares, compared to its average volume of 9,605,735. The business has a 50 day moving average of $28.58 and a 200 day moving average of $29.56. The stock has a market cap of $40.19 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 2.63 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.65. Kraft Heinz Co has a 12-month low of $24.86 and a 12-month high of $54.87.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, October 31st. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.15. The company had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $6.13 billion. Kraft Heinz had a negative net margin of 42.85% and a positive return on equity of 6.23%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 earnings per share. As a group, research analysts expect that Kraft Heinz Co will post 2.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.40 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.60 annualized dividend and a dividend yield of 4.87%. Kraft Heinz’s dividend payout ratio is currently 45.33%.

In other news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.44, for a total value of $712,952,605.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jorge P. Lemann bought 3,496,503 shares of the stock in a transaction dated Monday, September 16th. The stock was purchased at an average price of $28.60 per share, with a total value of $99,999,985.80. Following the acquisition, the director now owns 3,516,449 shares of the company’s stock, valued at $100,570,441.40. The disclosure for this purchase can be found here. Corporate insiders own 0.29% 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.

Read More: Asset Allocation

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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