Kraft Heinz Co (KHC) Shares Bought by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. boosted its stake in Kraft Heinz Co (NASDAQ:KHC) by 18.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,559 shares of the company’s stock after buying an additional 18,660 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Kraft Heinz were worth $6,754,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in KHC. Magellan Asset Management Ltd raised its holdings in shares of Kraft Heinz by 39.6% during the 2nd quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock valued at $2,112,094,000 after purchasing an additional 9,529,235 shares in the last quarter. FMR LLC raised its holdings in shares of Kraft Heinz by 34.4% during the 2nd quarter. FMR LLC now owns 8,254,817 shares of the company’s stock valued at $518,567,000 after purchasing an additional 2,111,198 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Kraft Heinz by 3.3% during the 2nd quarter. Northern Trust Corp now owns 7,204,595 shares of the company’s stock valued at $452,592,000 after purchasing an additional 230,493 shares in the last quarter. Federated Investors Inc. PA raised its holdings in shares of Kraft Heinz by 39,913.8% during the 2nd quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock valued at $214,038,000 after purchasing an additional 3,398,664 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Kraft Heinz by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 2,891,188 shares of the company’s stock valued at $181,612,000 after purchasing an additional 93,997 shares in the last quarter. Institutional investors own 63.22% of the company’s stock.

Shares of KHC opened at $53.99 on Friday. The firm has a market capitalization of $65.19 billion, a P/E ratio of 15.21, a PEG ratio of 1.91 and a beta of 0.45. Kraft Heinz Co has a one year low of $50.41 and a one year high of $82.48. The company has a current ratio of 1.00, a quick ratio of 0.57 and a debt-to-equity ratio of 0.47.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, November 1st. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.03). The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.31 billion. Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.83 EPS. On average, research analysts expect that Kraft Heinz Co will post 3.65 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 16th will be given a $0.625 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.50 annualized dividend and a yield of 4.63%. Kraft Heinz’s dividend payout ratio is 70.42%.

A number of research firms have recently weighed in on KHC. Morgan Stanley set a $49.00 price target on shares of Kraft Heinz and gave the company a “sell” rating in a report on Wednesday. BMO Capital Markets dropped their target price on shares of Kraft Heinz from $67.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, November 5th. Credit Suisse Group set a $52.00 target price on shares of Kraft Heinz and gave the stock a “hold” rating in a report on Friday, November 2nd. ValuEngine downgraded shares of Kraft Heinz from a “sell” rating to a “strong sell” rating in a report on Friday, November 2nd. Finally, Bank of America set a $83.00 target price on shares of Kraft Heinz and gave the stock a “buy” rating in a report on Friday, November 2nd. Five analysts have rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Kraft Heinz presently has an average rating of “Hold” and an average price target of $67.09.

ILLEGAL ACTIVITY WARNING: “Kraft Heinz Co (KHC) Shares Bought by Cambridge Investment Research Advisors Inc.” was published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark law. The original version of this story can be accessed at https://www.americanbankingnews.com/2018/11/10/kraft-heinz-co-khc-shares-bought-by-cambridge-investment-research-advisors-inc.html.

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.

Read More: Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply