Sanibel Captiva Trust Company Inc. decreased its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,465 shares of the company's stock after selling 24,738 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Kraft Heinz were worth $2,753,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Kraft Heinz by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock valued at $2,779,524,000 after purchasing an additional 14,996,486 shares during the last quarter. Norges Bank bought a new position in Kraft Heinz in the 4th quarter valued at $324,857,000. Southeastern Asset Management Inc. TN bought a new position in Kraft Heinz in the 4th quarter valued at $87,080,000. Fairfax Financial Holdings Ltd. Can raised its position in Kraft Heinz by 341.9% in 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 purchasing an additional 2,564,000 shares during the last quarter. Finally, Criteria Caixa S.A.U. bought a new position in Kraft Heinz in the 4th quarter valued at $73,316,000. Institutional investors and hedge funds own 78.17% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group dropped their target price on Kraft Heinz from $27.00 to $25.00 and set a "sell" rating for the company in a research report on Monday. Sanford C. Bernstein cut Kraft Heinz from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Cfra Research cut Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 16th. DZ Bank cut Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. reduced their price target on Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. According to MarketBeat, Kraft Heinz currently has a consensus rating of "Hold" and a consensus target price of $30.35.
Read Our Latest Report on Kraft Heinz
Kraft Heinz Stock Performance
NASDAQ:KHC traded up $0.04 on Thursday, hitting $26.46. The company's stock had a trading volume of 7,434,731 shares, compared to its average volume of 9,546,478. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average of $28.00 and a two-hundred day moving average of $29.46. The firm has a market capitalization of $31.32 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 3.39 and a beta of 0.27. The Kraft Heinz Company has a one year low of $26.01 and a one year high of $36.53.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The business's revenue for the quarter 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. Research analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current year.
Kraft Heinz Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.05%. Kraft Heinz's dividend payout ratio (DPR) is currently 73.06%.
Kraft Heinz 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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