Asahi Life Asset Management CO. LTD. purchased a new position in Kraft Heinz Company (NASDAQ:KHC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,550 shares of the company's stock, valued at approximately $351,000.
Several other hedge funds and other institutional investors have also made changes to their positions in KHC. Generali Investments Management Co LLC bought a new position in Kraft Heinz during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at about $29,000. Rossby Financial LCC acquired a new stake in shares of Kraft Heinz in the 1st quarter valued at about $29,000. Wayfinding Financial LLC acquired a new stake in shares of Kraft Heinz in the 1st quarter valued at about $33,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at about $38,000. 78.17% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on KHC. Mizuho set a $29.00 price target on Kraft Heinz and gave the company a "neutral" rating in a research note on Wednesday, May 28th. DZ Bank downgraded Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a research note on Friday, May 9th. Wells Fargo & Company lowered their target price on Kraft Heinz from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 9th. Cfra Research downgraded Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, Citigroup reaffirmed a "sell" rating and issued a $27.00 target price (down previously from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. Three analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company's stock. According to data from MarketBeat.com, Kraft Heinz presently has a consensus rating of "Hold" and an average target price of $30.29.
View Our Latest Stock Report on KHC
Kraft Heinz Trading Up 2.5%
Shares of KHC stock opened at $27.14 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. The stock has a market cap of $32.12 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 3.17 and a beta of 0.25. The stock has a 50 day simple moving average of $26.74 and a 200 day simple moving average of $28.70. Kraft Heinz Company has a 1 year low of $25.44 and a 1 year high of $36.53.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $6 billion during the quarter, compared to analysts' expectations of $6.02 billion. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The firm's revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. On average, research analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.
Kraft Heinz Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 5.90%. Kraft Heinz's dividend payout ratio is currently 73.06%.
Kraft Heinz Company Profile
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Free Report)
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.
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