Chicago Partners Investment Group LLC Has $143,000 Stake in Kraft Heinz Co (KHC)
Chicago Partners Investment Group LLC boosted its stake in Kraft Heinz Co (NASDAQ:KHC) by 64.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,278 shares of the company’s stock after purchasing an additional 895 shares during the period. Chicago Partners Investment Group LLC’s holdings in Kraft Heinz were worth $143,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors raised its holdings in shares of Kraft Heinz by 8.3% in the second quarter. Captrust Financial Advisors now owns 11,404 shares of the company’s stock valued at $716,000 after buying an additional 870 shares during the last quarter. Cibc Bank USA increased its stake in shares of Kraft Heinz by 5.5% during the second quarter. Cibc Bank USA now owns 16,638 shares of the company’s stock worth $1,045,000 after acquiring an additional 872 shares during the period. World Asset Management Inc increased its stake in shares of Kraft Heinz by 2.5% during the second quarter. World Asset Management Inc now owns 36,493 shares of the company’s stock worth $2,292,000 after acquiring an additional 903 shares during the period. Redmond Asset Management LLC increased its stake in shares of Kraft Heinz by 20.1% during the second quarter. Redmond Asset Management LLC now owns 5,454 shares of the company’s stock worth $343,000 after acquiring an additional 912 shares during the period. Finally, SevenBridge Financial Group LLC grew its position in Kraft Heinz by 15.2% during the second quarter. SevenBridge Financial Group LLC now owns 7,209 shares of the company’s stock worth $453,000 after buying an additional 949 shares during the period. Hedge funds and other institutional investors own 62.82% of the company’s stock.
Several brokerages have issued reports on KHC. BidaskClub raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group raised shares of Kraft Heinz to a “hold” rating and set a $52.00 price target on the stock in a report on Thursday, October 4th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 price target on shares of Kraft Heinz in a report on Tuesday, August 7th. Finally, Bank of America set a $85.00 price objective on shares of Kraft Heinz and gave the company a “buy” rating in a research note on Monday, August 6th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Kraft Heinz currently has an average rating of “Hold” and an average price target of $72.02.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Friday, August 3rd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. The company had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.57 billion. Kraft Heinz had a net margin of 40.85% and a return on equity of 6.16%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. On average, sell-side analysts expect that Kraft Heinz Co will post 3.71 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 17th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $2.50 annualized dividend and a yield of 4.61%. Kraft Heinz’s payout ratio is 70.42%.
In other news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of Kraft Heinz 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 legal filing with the SEC, which is available at this link. Also, EVP Eduardo Pelleissone sold 35,000 shares of Kraft Heinz stock in a transaction that occurred on Monday, August 6th. The stock was 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. 26.81% of the stock is currently owned by company insiders.
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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