Resources Management Corp CT ADV purchased a new position in Kraft Heinz Co (NASDAQ:KHC) in the 3rd quarter, HoldingsChannel reports. The fund purchased 16,632 shares of the company’s stock, valued at approximately $465,000.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Kraft Heinz by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 48,427,138 shares of the company’s stock worth $1,503,178,000 after acquiring an additional 630,178 shares in the last quarter. BlackRock Inc. lifted its position in shares of Kraft Heinz by 5.1% during the 2nd quarter. BlackRock Inc. now owns 38,743,271 shares of the company’s stock worth $1,202,590,000 after purchasing an additional 1,884,480 shares during the last quarter. State Street Corp grew its stake in shares of Kraft Heinz by 3.4% during the third quarter. State Street Corp now owns 29,811,249 shares of the company’s stock worth $832,777,000 after purchasing an additional 979,962 shares in the last quarter. Invesco Ltd. grew its stake in shares of Kraft Heinz by 2.7% during the second quarter. Invesco Ltd. now owns 20,084,226 shares of the company’s stock worth $623,415,000 after purchasing an additional 527,530 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Kraft Heinz by 4.5% during the second quarter. Northern Trust Corp now owns 7,780,206 shares of the company’s stock worth $241,497,000 after purchasing an additional 336,299 shares in the last quarter. 57.09% of the stock is currently owned by institutional investors and hedge funds.
Kraft Heinz stock opened at $31.03 on Friday. The company has a market capitalization of $38.16 billion, a P/E ratio of 8.79, a PEG ratio of 2.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.65 and a current ratio of 1.00. Kraft Heinz Co has a fifty-two week low of $24.86 and a fifty-two week high of $50.23. The stock has a 50-day simple moving average of $30.53 and a 200-day simple moving average of $29.36.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.15. The firm had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $6.13 billion. Kraft Heinz had a positive return on equity of 6.23% and a negative net margin of 42.85%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. As a group, analysts forecast that Kraft Heinz Co will post 2.81 earnings per share for the current year.
The company also recently disclosed 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. This represents a $1.60 annualized dividend and a dividend yield of 5.16%. The ex-dividend date is Thursday, November 14th. Kraft Heinz’s payout ratio is currently 45.33%.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of Kraft Heinz stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.44, for a total value of $712,952,605.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Damme Alexandre Van bought 250,000 shares of Kraft Heinz stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost of $28.45 per share, with a total value of $7,112,500.00. Following the completion of the acquisition, the director now directly owns 8,168 shares of the company’s stock, valued at approximately $232,379.60. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.
A number of research firms have weighed in on KHC. Piper Jaffray Companies set a $33.00 price target on Kraft Heinz and gave the company a “hold” rating in a research note on Friday, November 1st. Bank of America set a $32.00 price objective on Kraft Heinz and gave the stock a “neutral” rating in a research report on Friday, August 9th. ValuEngine upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research cut Kraft Heinz from a “hold” rating to a “sell” rating and set a $30.00 target price for the company. in a research note on Tuesday, October 22nd. Finally, Goldman Sachs Group downgraded Kraft Heinz from a “neutral” rating to a “sell” rating and set a $29.00 price target for the company. in a report on Thursday, November 14th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.90.
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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