A number of other research firms also recently issued reports on KHC. BMO Capital Markets raised their price target on shares of Kraft Heinz to $37.00 and gave the stock a market perform rating in a research report on Friday, November 1st. Wells Fargo & Co reaffirmed a hold rating on shares of Kraft Heinz in a research report on Tuesday, September 3rd. ValuEngine raised shares of Kraft Heinz from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Piper Jaffray Companies set a $33.00 price objective on shares of Kraft Heinz and gave the stock a hold rating in a research note on Friday, November 1st. Finally, Barclays set a $32.00 target price on shares of Kraft Heinz and gave the stock a hold rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. Kraft Heinz has an average rating of Hold and a consensus price target of $33.90.
Shares of NASDAQ KHC traded down $0.16 during trading on Friday, reaching $31.09. The stock had a trading volume of 6,454,222 shares, compared to its average volume of 9,341,909. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.65 and a current ratio of 1.00. The stock has a market cap of $37.97 billion, a PE ratio of 8.81, a P/E/G ratio of 2.41 and a beta of 0.76. Kraft Heinz has a one year low of $24.86 and a one year high of $49.94. The firm’s 50 day moving average price is $30.60 and its two-hundred day moving average price is $29.36.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.15%. Kraft Heinz’s dividend payout ratio (DPR) is presently 45.33%.
In related news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.44, for a total value of $712,952,605.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jorge P. Lemann acquired 3,496,503 shares of Kraft Heinz stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average cost of $28.60 per share, with a total value of $99,999,985.80. Following the acquisition, the director now directly owns 3,516,449 shares of the company’s stock, valued at $100,570,441.40. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Newport Trust Co raised its position in shares of Kraft Heinz by 14,858.7% during the 3rd quarter. Newport Trust Co now owns 4,788,421 shares of the company’s stock worth $133,765,000 after buying an additional 4,756,410 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Kraft Heinz during the second quarter valued at approximately $81,466,000. BlackRock Inc. increased its stake in shares of Kraft Heinz by 5.1% during the second quarter. BlackRock Inc. now owns 38,743,271 shares of the company’s stock valued at $1,202,590,000 after acquiring an additional 1,884,480 shares during the period. Millennium Management LLC raised its holdings in Kraft Heinz by 4,816.6% during the third quarter. Millennium Management LLC now owns 1,336,875 shares of the company’s stock worth $37,345,000 after purchasing an additional 1,309,684 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Kraft Heinz during the second quarter worth approximately $36,909,000. 57.09% of the stock is currently owned by hedge funds and other institutional investors.
Kraft Heinz Company Profile
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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