Great Lakes Advisors LLC lowered its stake in shares of The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,582 shares of the company’s stock after selling 2,677 shares during the quarter. Great Lakes Advisors LLC’s holdings in Kraft Heinz were worth $3,748,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fairfield Bush & CO. purchased a new stake in shares of Kraft Heinz in the 1st quarter valued at $65,000. Acadian Asset Management LLC grew its position in Kraft Heinz by 197.7% during the 1st quarter. Acadian Asset Management LLC now owns 2,331 shares of the company’s stock worth $90,000 after purchasing an additional 1,548 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of Kraft Heinz by 4.0% in the 1st quarter. Raymond James Trust N.A. now owns 15,846 shares of the company’s stock valued at $624,000 after buying an additional 614 shares during the period. Sei Investments Co. boosted its stake in shares of Kraft Heinz by 208.7% in the first quarter. Sei Investments Co. now owns 116,373 shares of the company’s stock worth $4,679,000 after buying an additional 78,677 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in Kraft Heinz during the first quarter worth about $293,000. 75.39% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. HSBC initiated coverage on Kraft Heinz in a research report on Friday, September 22nd. They issued a “hold” rating and a $38.00 price objective on the stock. Mizuho cut their price target on Kraft Heinz from $50.00 to $47.00 in a research note on Monday, July 31st. Barclays dropped their price objective on Kraft Heinz from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, October 12th. StockNews.com started coverage on Kraft Heinz in a research note on Thursday, October 5th. They set a “hold” rating for the company. Finally, TD Cowen assumed coverage on shares of Kraft Heinz in a research note on Wednesday, September 13th. They issued a “market perform” rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.50.
Kraft Heinz Trading Up 0.4 %
Shares of KHC stock opened at $33.79 on Tuesday. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $42.80. The firm has a market cap of $41.44 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69. The company has a 50-day moving average of $32.85 and a two-hundred day moving average of $34.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.00 and a quick ratio of 0.52.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. Kraft Heinz had a net margin of 11.00% and a return on equity of 7.63%. The firm had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter last year, the company posted $0.63 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts predict that The Kraft Heinz Company will post 2.96 EPS for the current year.
Kraft Heinz Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Thursday, November 30th. Kraft Heinz’s dividend payout ratio (DPR) is 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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