Bayforest Capital Ltd acquired a new position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,320 shares of the company's stock, valued at approximately $314,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Kraft Heinz by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 19,745,734 shares of the company's stock worth $604,644,000 after acquiring an additional 595,406 shares during the period. Northern Trust Corp raised its position in shares of Kraft Heinz by 12.6% in the fourth quarter. Northern Trust Corp now owns 9,289,691 shares of the company's stock worth $285,286,000 after acquiring an additional 1,039,885 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Kraft Heinz by 23.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,585,167 shares of the company's stock worth $263,650,000 after acquiring an additional 1,628,516 shares during the period. Bank of New York Mellon Corp raised its position in shares of Kraft Heinz by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 8,171,720 shares of the company's stock worth $248,665,000 after acquiring an additional 103,548 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Kraft Heinz by 4,390.7% in the first quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company's stock worth $226,523,000 after acquiring an additional 7,278,295 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
KHC has been the subject of a number of analyst reports. Sanford C. Bernstein downgraded shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. DZ Bank cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a research note on Friday, May 9th. Cfra Research cut shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 16th. The Goldman Sachs Group raised shares of Kraft Heinz from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $25.00 to $27.00 in a research note on Wednesday, June 25th. Finally, UBS Group boosted their target price on shares of Kraft Heinz from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Thursday. Three analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.35.
Read Our Latest Stock Analysis on KHC
Insider Activity at Kraft Heinz
In other news, Director Elio Leoni Sceti sold 25,000 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $27.91, for a total value of $697,750.00. Following the transaction, the director directly owned 40,000 shares in the company, valued at approximately $1,116,400. This represents a 38.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company's stock.
Kraft Heinz Trading Down 0.2%
Shares of Kraft Heinz stock traded down $0.05 during mid-day trading on Friday, hitting $27.41. The stock had a trading volume of 16,933,701 shares, compared to its average volume of 17,301,668. The firm has a 50-day moving average of $26.87 and a two-hundred day moving average of $28.53. Kraft Heinz Company has a 12-month low of $25.44 and a 12-month high of $36.53. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. The firm has a market cap of $32.44 billion, a P/E ratio of -6.10, a price-to-earnings-growth ratio of 3.21 and a beta of 0.23.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period in the prior year, the business posted $0.78 EPS. The business's revenue for the quarter was down 1.9% compared to the same quarter last year. Sell-side analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current year.
Kraft Heinz Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Friday, August 29th. Kraft Heinz's dividend payout ratio is currently -35.63%.
About Kraft Heinz
(
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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