Arbor Wealth Management LLC Increases Stake in Kraft Heinz Co (NASDAQ:KHC)

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Arbor Wealth Management LLC grew its position in Kraft Heinz Co (NASDAQ:KHC) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,308 shares of the company’s stock after purchasing an additional 816 shares during the period. Kraft Heinz comprises about 1.4% of Arbor Wealth Management LLC’s holdings, making the stock its 26th largest position. Arbor Wealth Management LLC’s holdings in Kraft Heinz were worth $2,586,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of KHC. Oregon Public Employees Retirement Fund boosted its stake in Kraft Heinz by 64.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 410,074 shares of the company’s stock valued at $12,729,000 after purchasing an additional 161,316 shares during the period. Truvestments Capital LLC lifted its position in shares of Kraft Heinz by 96.4% in the 2nd quarter. Truvestments Capital LLC now owns 3,643 shares of the company’s stock worth $113,000 after acquiring an additional 1,788 shares during the period. SevenBridge Financial Group LLC lifted its position in shares of Kraft Heinz by 28.9% in the 2nd quarter. SevenBridge Financial Group LLC now owns 5,723 shares of the company’s stock worth $178,000 after acquiring an additional 1,284 shares during the period. Community Bank of Raymore lifted its position in shares of Kraft Heinz by 43.3% in the 2nd quarter. Community Bank of Raymore now owns 52,461 shares of the company’s stock worth $1,628,000 after acquiring an additional 15,850 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Kraft Heinz by 8.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 212,638 shares of the company’s stock worth $6,600,000 after acquiring an additional 15,978 shares during the period. 58.06% of the stock is currently owned by institutional investors.

NASDAQ:KHC opened at $25.06 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.21. The company has a market cap of $32.07 billion, a P/E ratio of 7.10, a P/E/G ratio of 2.62 and a beta of 0.74. The stock’s 50-day simple moving average is $30.46 and its 200 day simple moving average is $33.30. Kraft Heinz Co has a 52-week low of $24.89 and a 52-week high of $61.68.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.07 billion. Kraft Heinz had a positive return on equity of 6.89% and a negative net margin of 38.95%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 earnings per share. As a group, equities analysts predict that Kraft Heinz Co will post 2.73 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 6.38%. The ex-dividend date is Tuesday, August 20th. Kraft Heinz’s payout ratio is presently 45.33%.

A number of equities analysts have recently issued reports on the company. Wells Fargo & Co set a $29.00 target price on Kraft Heinz and gave the stock a “hold” rating in a report on Friday, August 9th. BMO Capital Markets dropped their price target on Kraft Heinz from $40.00 to $33.00 and set a “market perform” rating for the company in a report on Monday. UBS Group set a $30.00 price target on Kraft Heinz and gave the company a “hold” rating in a report on Friday, August 9th. Zacks Investment Research raised Kraft Heinz from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 24th. Finally, Guggenheim cut Kraft Heinz from a “neutral” rating to a “sell” rating and lowered their target price for the company from $29.00 to $25.00 in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $36.45.

Kraft Heinz Company Profile

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

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