Huntington National Bank increased its position in Kraft Heinz Co. (NASDAQ:KHC) by 438.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,016 shares of the company’s stock after buying an additional 113,190 shares during the period. Huntington National Bank’s holdings in Kraft Heinz were worth $12,444,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. WestEnd Advisors LLC bought a new stake in Kraft Heinz during the second quarter worth $97,332,000. BB&T Corp increased its stake in Kraft Heinz by 3.3% in the second quarter. BB&T Corp now owns 179,104 shares of the company’s stock worth $15,848,000 after buying an additional 5,659 shares during the last quarter. SG Americas Securities LLC increased its stake in Kraft Heinz by 28.5% in the second quarter. SG Americas Securities LLC now owns 177,614 shares of the company’s stock worth $15,715,000 after buying an additional 39,342 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Kraft Heinz by 232.6% in the third quarter. BNP Paribas Arbitrage SA now owns 862,816 shares of the company’s stock worth $77,231,000 after buying an additional 603,422 shares during the last quarter. Finally, Ngam Advisors L.P. increased its stake in Kraft Heinz by 5.9% in the second quarter. Ngam Advisors L.P. now owns 178,732 shares of the company’s stock worth $15,815,000 after buying an additional 9,997 shares during the last quarter. 60.69% of the stock is owned by institutional investors and hedge funds.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded down 0.11% during midday trading on Thursday, hitting $88.25. 140,734 shares of the company were exchanged. The company’s 50 day moving average price is $85.42 and its 200 day moving average price is $87.01. Kraft Heinz Co. has a one year low of $70.01 and a one year high of $90.54. The firm has a market cap of $107.42 billion, a P/E ratio of 38.84 and a beta of 0.42.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Kraft Heinz had a return on equity of 6.40% and a net margin of 10.44%. Kraft Heinz’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. Equities analysts expect that Kraft Heinz Co. will post $3.24 EPS for the current year.
KHC has been the subject of a number of recent analyst reports. Sanford C. Bernstein reissued a “top pick” rating and set a $109.00 price target on shares of Kraft Heinz in a research report on Friday, January 6th. JPMorgan Chase & Co. reaffirmed a “focus list” rating on shares of Kraft Heinz in a report on Tuesday, October 4th. Vetr raised shares of Kraft Heinz from a “buy” rating to a “strong-buy” rating and set a $98.22 price objective for the company in a report on Thursday, October 6th. Susquehanna lifted their price objective on shares of Kraft Heinz from $114.00 to $118.00 and gave the stock a “positive” rating in a report on Monday, October 31st. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Kraft Heinz in a report on Monday, October 31st. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Kraft Heinz presently has an average rating of “Buy” and an average price target of $98.59.
About Kraft Heinz
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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