Equitable Trust Co. acquired a new stake in Kraft Heinz Co (NASDAQ:KHC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,052 shares of the company’s stock, valued at approximately $483,000.
A number of other institutional investors have also recently made changes to their positions in KHC. State Street Corp raised its holdings in Kraft Heinz by 1.3% during the fourth quarter. State Street Corp now owns 30,207,574 shares of the company’s stock worth $970,569,000 after purchasing an additional 396,325 shares in the last quarter. American International Group Inc. raised its stake in Kraft Heinz by 45.6% during the 4th quarter. American International Group Inc. now owns 10,122,319 shares of the company’s stock valued at $325,230,000 after purchasing an additional 3,171,699 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Kraft Heinz by 5.4% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 5,603,633 shares of the company’s stock valued at $180,045,000 after purchasing an additional 287,374 shares during the period. First Eagle Investment Management LLC raised its stake in Kraft Heinz by 0.8% during the 4th quarter. First Eagle Investment Management LLC now owns 5,504,407 shares of the company’s stock valued at $176,857,000 after purchasing an additional 41,946 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Kraft Heinz by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 5,401,264 shares of the company’s stock valued at $173,544,000 after purchasing an additional 99,920 shares during the period. 57.61% of the stock is owned by hedge funds and other institutional investors.
KHC stock traded up $0.35 during mid-day trading on Thursday, reaching $23.31. 908,317 shares of the stock traded hands, compared to its average volume of 12,974,419. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 0.55. Kraft Heinz Co has a 52 week low of $19.99 and a 52 week high of $33.78. The business has a 50-day moving average of $25.84 and a two-hundred day moving average of $28.98. The firm has a market capitalization of $28.08 billion, a PE ratio of 8.18, a P/E/G ratio of 1.68 and a beta of 0.96.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The business had revenue of $6.54 billion during the quarter, compared to analyst estimates of $6.61 billion. Kraft Heinz had a net margin of 7.75% and a return on equity of 5.93%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. On average, equities research analysts anticipate that Kraft Heinz Co will post 2.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date is Thursday, March 12th. Kraft Heinz’s dividend payout ratio is currently 56.14%.
Several equities analysts have recently commented on the stock. Goldman Sachs Group upgraded shares of Kraft Heinz from a “sell” rating to a “neutral” rating and boosted their price target for the company from $27.00 to $28.00 in a report on Thursday, March 12th. TheStreet upgraded shares of Kraft Heinz from a “d+” rating to a “c-” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upgraded shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $29.00 price target on the stock in a report on Wednesday. Cfra decreased their price objective on shares of Kraft Heinz from $33.00 to $32.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Finally, Morgan Stanley decreased their price objective on shares of Kraft Heinz from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Monday. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $28.94.
Kraft Heinz 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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