Chevy Chase Trust Holdings LLC Has $12.15 Million Stake in Kraft Heinz Company $KHC

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in Kraft Heinz Company by 2.7%, holding a total of 470,523 shares valued at approximately $12.15 million.
• Several institutional investors have also adjusted their holdings in Kraft Heinz, with a combined institutional ownership of 78.17% of the company's stock.
• Kraft Heinz announced a quarterly dividend of $0.40 per share, yielding 6.3%, with a -35.63% dividend payout ratio.

Chevy Chase Trust Holdings LLC raised its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 2.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 470,523 shares of the company's stock after purchasing an additional 12,397 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Kraft Heinz were worth $12,149,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Klingenstein Fields & Co. LP lifted its position in shares of Kraft Heinz by 4.6% during the 1st quarter. Klingenstein Fields & Co. LP now owns 7,867 shares of the company's stock valued at $239,000 after acquiring an additional 344 shares during the period. Meeder Advisory Services Inc. lifted its position in shares of Kraft Heinz by 2.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 15,091 shares of the company's stock valued at $459,000 after acquiring an additional 393 shares during the period. Johnson Investment Counsel Inc. lifted its position in shares of Kraft Heinz by 1.6% during the 1st quarter. Johnson Investment Counsel Inc. now owns 25,596 shares of the company's stock valued at $779,000 after acquiring an additional 397 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Kraft Heinz by 0.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 69,058 shares of the company's stock valued at $2,101,000 after acquiring an additional 397 shares during the period. Finally, one8zero8 LLC lifted its position in shares of Kraft Heinz by 5.5% during the 1st quarter. one8zero8 LLC now owns 7,964 shares of the company's stock valued at $242,000 after acquiring an additional 414 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KHC shares. The Goldman Sachs Group upgraded shares of Kraft Heinz from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $25.00 to $27.00 in a report on Wednesday, June 25th. Weiss Ratings restated a "sell (d)" rating on shares of Kraft Heinz in a report on Wednesday, October 8th. Jefferies Financial Group lowered their price objective on shares of Kraft Heinz from $28.00 to $24.00 and set a "hold" rating on the stock in a report on Wednesday, October 15th. Morgan Stanley lowered their price objective on shares of Kraft Heinz from $29.00 to $28.00 in a report on Thursday. Finally, Hsbc Global Res upgraded shares of Kraft Heinz to a "hold" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Kraft Heinz presently has a consensus rating of "Reduce" and a consensus price target of $28.65.

Kraft Heinz Price Performance

KHC opened at $25.52 on Monday. The firm has a market cap of $30.21 billion, a P/E ratio of -5.68, a PEG ratio of 2.99 and a beta of 0.16. The firm has a 50-day moving average of $26.54 and a 200 day moving average of $27.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07. Kraft Heinz Company has a fifty-two week low of $24.80 and a fifty-two week high of $36.31.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. The company had revenue of $6.39 billion during the quarter. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. On average, research analysts expect that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 29th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.60 annualized dividend and a yield of 6.3%. Kraft Heinz's dividend payout ratio is -35.63%.

Kraft Heinz Profile

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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