44 Wealth Management LLC raised its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,707 shares of the company's stock after buying an additional 9,980 shares during the quarter. 44 Wealth Management LLC's holdings in Kraft Heinz were worth $1,513,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in KHC. Vanguard Group Inc. boosted its holdings in shares of Kraft Heinz by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock worth $2,779,524,000 after purchasing an additional 14,996,486 shares in the last quarter. Norges Bank purchased a new stake in Kraft Heinz during the 4th quarter valued at about $324,857,000. Southeastern Asset Management Inc. TN purchased a new stake in Kraft Heinz during the 4th quarter valued at about $87,080,000. Fairfax Financial Holdings Ltd. Can boosted its holdings in Kraft Heinz by 341.9% during the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company's stock valued at $101,773,000 after acquiring an additional 2,564,000 shares during the period. Finally, Criteria Caixa S.A.U. purchased a new stake in Kraft Heinz during the 4th quarter valued at about $73,316,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.
Kraft Heinz Stock Down 1.6%
KHC traded down $0.43 during trading on Friday, reaching $26.63. The stock had a trading volume of 9,176,852 shares, compared to its average volume of 10,080,449. The stock's 50 day moving average is $26.97 and its two-hundred day moving average is $28.85. 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 company has a market capitalization of $31.52 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 3.12 and a beta of 0.25. Kraft Heinz Company has a one year low of $25.44 and a one year high of $36.53.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The firm's quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. As a group, analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current year.
Kraft Heinz Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date of this dividend was Friday, May 30th. Kraft Heinz's dividend payout ratio (DPR) is presently 73.06%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on KHC. Morgan Stanley began coverage on Kraft Heinz in a report on Monday, March 24th. They set an "underweight" rating and a $29.00 target price for the company. Stifel Nicolaus dropped their target price on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group upgraded Kraft Heinz from a "sell" rating to a "neutral" rating and increased their target price for the company from $25.00 to $27.00 in a report on Wednesday, June 25th. Citigroup restated a "sell" rating and set a $27.00 target price (down from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Finally, Mizuho set a $29.00 price target on Kraft Heinz and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $30.47.
Check Out Our Latest Stock Report on Kraft Heinz
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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