Pitcairn Co. acquired a new stake in Kraft Heinz Co (NASDAQ:KHC) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,232 shares of the company’s stock, valued at approximately $231,000.
A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its stake in Kraft Heinz by 1.2% in the 1st quarter. State Street Corp now owns 30,556,828 shares of the company’s stock valued at $755,976,000 after acquiring an additional 349,254 shares during the period. Franklin Resources Inc. raised its stake in Kraft Heinz by 8.3% in the 1st quarter. Franklin Resources Inc. now owns 21,527,997 shares of the company’s stock valued at $532,603,000 after acquiring an additional 1,642,137 shares during the period. Invesco Ltd. raised its stake in Kraft Heinz by 2.3% in the 1st quarter. Invesco Ltd. now owns 9,173,518 shares of the company’s stock valued at $226,953,000 after acquiring an additional 209,032 shares during the period. FDx Advisors Inc. bought a new stake in shares of Kraft Heinz during the first quarter valued at about $32,262,000. Finally, First Eagle Investment Management LLC increased its position in shares of Kraft Heinz by 30.3% during the first quarter. First Eagle Investment Management LLC now owns 7,174,040 shares of the company’s stock valued at $177,486,000 after buying an additional 1,669,633 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.
Several equities research analysts have recently weighed in on KHC shares. Barclays reiterated a “hold” rating and set a $36.00 price target on shares of Kraft Heinz in a research report on Sunday, July 19th. JPMorgan Chase & Co. upped their price target on Kraft Heinz from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. ValuEngine cut Kraft Heinz from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 2nd. Deutsche Bank upgraded Kraft Heinz from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Thursday, July 16th. Finally, Goldman Sachs Group cut Kraft Heinz from a “neutral” rating to a “sell” rating and decreased their price target for the company from $32.00 to $30.00 in a research report on Monday, June 22nd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.95.
Shares of KHC opened at $34.38 on Friday. The firm has a market cap of $42.01 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.36 and a beta of 1.01. The stock has a 50 day simple moving average of $32.93 and a two-hundred day simple moving average of $29.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.09 and a quick ratio of 1.12. Kraft Heinz Co has a 1 year low of $19.99 and a 1 year high of $35.87.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.15. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.54 billion. Kraft Heinz had a positive return on equity of 6.68% and a negative net margin of 0.76%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. On average, equities analysts anticipate that Kraft Heinz Co will post 2.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date is Thursday, August 27th. Kraft Heinz’s dividend payout ratio (DPR) is presently 56.14%.
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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