Fisher Asset Management LLC purchased a new position in The Kraft Heinz Company (NASDAQ:KHC – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,008 shares of the company’s stock, valued at approximately $213,000.
Other institutional investors also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Kraft Heinz by 98,074.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 52,181,724 shares of the company’s stock worth $1,852,451,000 after buying an additional 52,128,572 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Kraft Heinz by 1,835.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock valued at $794,964,000 after purchasing an additional 18,518,584 shares during the period. BlackRock Inc. raised its holdings in shares of Kraft Heinz by 10.4% in the 1st quarter. BlackRock Inc. now owns 76,422,467 shares of the company’s stock valued at $2,955,257,000 after purchasing an additional 7,196,843 shares in the last quarter. Capital World Investors lifted its position in shares of Kraft Heinz by 96.5% in the 1st quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock worth $524,360,000 after purchasing an additional 6,537,000 shares during the period. Finally, Norges Bank bought a new position in shares of Kraft Heinz during the fourth quarter valued at approximately $252,224,000. Hedge funds and other institutional investors own 75.39% of the company’s stock.
Analyst Ratings Changes
A number of research firms have weighed in on KHC. Mizuho lowered their target price on Kraft Heinz from $50.00 to $47.00 in a report on Monday, July 31st. Sanford C. Bernstein upgraded Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Tuesday, November 14th. HSBC initiated coverage on shares of Kraft Heinz in a research report on Friday, September 22nd. They set a “hold” rating and a $38.00 price target for the company. Piper Sandler lifted their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, November 2nd. Finally, Barclays decreased their target price on shares of Kraft Heinz from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.50.
Kraft Heinz Trading Up 0.4 %
Kraft Heinz stock opened at $33.79 on Tuesday. The stock has a 50-day moving average price of $32.85 and a 200 day moving average price of $34.98. The company has a market capitalization of $41.44 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $42.80. The company has a quick ratio of 0.52, a current ratio of 1.00 and a debt-to-equity ratio of 0.39.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.66 by $0.06. Kraft Heinz had a net margin of 11.00% and a return on equity of 7.63%. The business had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the previous year, the business posted $0.63 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that The Kraft Heinz Company will post 2.96 EPS for the current year.
Kraft Heinz Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.74%. Kraft Heinz’s payout ratio is currently 66.12%.
About Kraft Heinz
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.
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