Cooke & Bieler LP increased its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,491,383 shares of the company's stock after acquiring an additional 173,489 shares during the quarter. Kraft Heinz makes up about 1.4% of Cooke & Bieler LP's holdings, making the stock its 29th largest position. Cooke & Bieler LP owned about 0.38% of Kraft Heinz worth $136,673,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Kraft Heinz by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock worth $2,779,524,000 after buying an additional 14,996,486 shares during the last quarter. Norges Bank purchased a new position in shares of Kraft Heinz in the fourth quarter valued at $324,857,000. Southeastern Asset Management Inc. TN purchased a new position in shares of Kraft Heinz in the fourth quarter valued at $87,080,000. Fairfax Financial Holdings Ltd. Can grew its position in shares of Kraft Heinz by 341.9% in the fourth quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company's stock valued at $101,773,000 after purchasing an additional 2,564,000 shares in the last quarter. Finally, Criteria Caixa S.A.U. purchased a new position in shares of Kraft Heinz in the fourth quarter valued at $73,316,000. 78.17% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
KHC has been the subject of several recent research reports. Citigroup reiterated a "sell" rating and issued a $27.00 price target (down from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. Wells Fargo & Company lifted their price objective on Kraft Heinz from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday. Sanford C. Bernstein lowered Kraft Heinz from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Morgan Stanley started coverage on Kraft Heinz in a research note on Monday, March 24th. They set an "underweight" rating and a $29.00 price objective for the company. Finally, Cfra Research lowered Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $30.29.
Read Our Latest Research Report on KHC
Kraft Heinz Stock Down 1.1%
Shares of Kraft Heinz stock traded down $0.31 during midday trading on Friday, hitting $27.82. The company had a trading volume of 18,388,640 shares, compared to its average volume of 10,646,572. The company has a 50 day moving average of $26.68 and a 200 day moving average of $28.65. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.31. Kraft Heinz Company has a 52-week low of $25.44 and a 52-week high of $36.53. The stock has a market capitalization of $32.93 billion, a P/E ratio of 12.70, a P/E/G ratio of 3.23 and a beta of 0.25.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the business posted $0.69 EPS. The company's revenue was down 6.4% compared to the same quarter last year. On average, equities analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.
Kraft Heinz Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were paid a $0.40 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.75%. Kraft Heinz's dividend payout ratio (DPR) is currently 73.06%.
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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