Lazard Asset Management LLC grew its position in shares of The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 95.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,825 shares of the company's stock after acquiring an additional 10,193 shares during the quarter. Lazard Asset Management LLC's holdings in Kraft Heinz were worth $793,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Sandy Cove Advisors LLC purchased a new position in Kraft Heinz in the first quarter valued at about $25,000. Crewe Advisors LLC lifted its position in Kraft Heinz by 108.8% during the 2nd quarter. Crewe Advisors LLC now owns 691 shares of the company's stock worth $26,000 after acquiring an additional 360 shares in the last quarter. Hallmark Capital Management Inc. purchased a new position in Kraft Heinz in the 2nd quarter worth approximately $32,000. Bogart Wealth LLC grew its position in Kraft Heinz by 149.9% in the second quarter. Bogart Wealth LLC now owns 852 shares of the company's stock valued at $33,000 after acquiring an additional 511 shares in the last quarter. Finally, Field & Main Bank purchased a new stake in shares of Kraft Heinz during the second quarter valued at approximately $34,000. 67.03% of the stock is currently owned by hedge funds and other institutional investors.
Get Kraft Heinz alerts:Kraft Heinz Stock Up 0.9 %
KHC stock opened at $38.10 on Friday. The firm has a fifty day moving average price of $35.84 and a two-hundred day moving average price of $37.56. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.90 and a quick ratio of 0.50. The Kraft Heinz Company has a 1-year low of $32.73 and a 1-year high of $44.87. The firm has a market cap of $46.67 billion, a price-to-earnings ratio of 38.88, a PEG ratio of 2.79 and a beta of 0.77.
Kraft Heinz (NASDAQ:KHC – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. Kraft Heinz had a net margin of 4.71% and a return on equity of 6.84%. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.30 billion. Research analysts predict that The Kraft Heinz Company will post 2.7 EPS for the current year.Kraft Heinz Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, November 25th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 4.20%. Kraft Heinz's payout ratio is currently 163.27%.
Analyst Ratings Changes
KHC has been the subject of a number of recent analyst reports. UBS Group raised shares of Kraft Heinz from a "sell" rating to a "neutral" rating and set a $34.00 price target for the company in a report on Thursday, September 29th. StockNews.com began coverage on Kraft Heinz in a research note on Wednesday, October 12th. They issued a "hold" rating on the stock. TheStreet upgraded Kraft Heinz from a "c+" rating to a "b-" rating in a research note on Wednesday, November 2nd. Morgan Stanley lifted their price objective on Kraft Heinz from $37.00 to $38.00 and gave the stock an "equal weight" rating in a report on Thursday, October 27th. Finally, The Goldman Sachs Group raised shares of Kraft Heinz from a "neutral" rating to a "buy" rating and set a $43.00 price target for the company in a research report on Sunday, October 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $40.75.
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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