Principal Financial Group Inc. raised its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 811,004 shares of the company’s stock after purchasing an additional 40,005 shares during the quarter. Principal Financial Group Inc. owned 0.07% of Kraft Heinz worth $29,861,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG lifted its position in shares of Kraft Heinz by 70.0% during the third quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 64,720 shares of the company’s stock worth $2,383,000 after purchasing an additional 26,640 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Kraft Heinz during the second quarter valued at $2,815,000. PGGM Investments increased its stake in shares of Kraft Heinz by 101.1% during the third quarter. PGGM Investments now owns 106,033 shares of the company’s stock valued at $3,904,000 after buying an additional 53,310 shares during the period. Liberty Wealth Management LLC increased its stake in shares of Kraft Heinz by 5,994.7% during the second quarter. Liberty Wealth Management LLC now owns 20,783 shares of the company’s stock valued at $510,000 after buying an additional 20,442 shares during the period. Finally, JustInvest LLC increased its stake in shares of Kraft Heinz by 6.7% during the second quarter. JustInvest LLC now owns 8,218 shares of the company’s stock valued at $335,000 after buying an additional 516 shares during the period. Institutional investors and hedge funds own 60.98% of the company’s stock.
Shares of NASDAQ:KHC opened at $38.02 on Friday. The Kraft Heinz Company has a 12-month low of $31.60 and a 12-month high of $44.95. The company has a market capitalization of $46.54 billion, a PE ratio of 20.33, a PEG ratio of 2.88 and a beta of 1.07. The business has a 50 day moving average of $35.70 and a two-hundred day moving average of $36.87. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 17th. Stockholders of record on Friday, November 26th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Wednesday, November 24th. Kraft Heinz’s payout ratio is 85.56%.
Several research firms have issued reports on KHC. Guggenheim lowered Kraft Heinz from a “buy” rating to a “neutral” rating and cut their target price for the company from $46.00 to $33.00 in a research note on Wednesday, December 8th. TheStreet upgraded Kraft Heinz from a “c” rating to a “b-” rating in a research note on Monday, November 29th. Finally, Morgan Stanley lifted their target price on Kraft Heinz from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.33.
In related news, major shareholder Global Food Holdings Lp 3G sold 30,596,465 shares of the business’s stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $35.75, for a total transaction of $1,093,823,623.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Lande Rashida La sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 30th. The stock was sold at an average price of $33.77, for a total value of $675,400.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Kraft Heinz Company Profile
The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015 and is headquartered in Pittsburgh, PA.
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