United Services Automobile Association grew its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 20.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,051,493 shares of the company’s stock after acquiring an additional 175,410 shares during the quarter. United Services Automobile Association owned about 0.09% of Kraft Heinz worth $57,948,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Kraft Heinz by 2.8% in the third quarter. BlackRock Inc. now owns 36,036,271 shares of the company’s stock valued at $1,985,959,000 after buying an additional 997,088 shares in the last quarter. Magellan Asset Management Ltd grew its stake in shares of Kraft Heinz by 39.6% in the second quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock valued at $2,112,094,000 after buying an additional 9,529,235 shares in the last quarter. FMR LLC grew its stake in shares of Kraft Heinz by 5.3% in the third quarter. FMR LLC now owns 8,693,659 shares of the company’s stock valued at $479,108,000 after buying an additional 438,842 shares in the last quarter. Northern Trust Corp grew its stake in shares of Kraft Heinz by 3.3% in the second quarter. Northern Trust Corp now owns 7,204,595 shares of the company’s stock valued at $452,592,000 after buying an additional 230,493 shares in the last quarter. Finally, Federated Investors Inc. PA grew its stake in shares of Kraft Heinz by 39,913.8% in the second quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock valued at $214,038,000 after buying an additional 3,398,664 shares in the last quarter. Institutional investors own 63.99% of the company’s stock.
A number of research firms have recently issued reports on KHC. BidaskClub upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Piper Jaffray Companies set a $62.00 target price on Kraft Heinz and gave the company a “buy” rating in a research note on Friday, November 2nd. Morgan Stanley set a $49.00 target price on Kraft Heinz and gave the company a “sell” rating in a research note on Wednesday, November 7th. Berenberg Bank set a $64.00 target price on Kraft Heinz and gave the company a “buy” rating in a research note on Tuesday, November 20th. Finally, Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Six analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Kraft Heinz has an average rating of “Hold” and a consensus price target of $66.89.
Shares of KHC opened at $51.09 on Friday. The stock has a market capitalization of $62.41 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 2.28 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 quick ratio of 0.57, a current ratio of 1.00 and a debt-to-equity ratio of 0.47.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.31 billion. Kraft Heinz had a net margin of 39.56% and a return on equity of 6.62%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 EPS. On average, research analysts anticipate that Kraft Heinz Co will post 3.65 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 16th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Thursday, November 15th. Kraft Heinz’s dividend payout ratio is currently 70.42%.
COPYRIGHT VIOLATION WARNING: “Kraft Heinz Co (KHC) Shares Bought by United Services Automobile Association” was first reported by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2018/11/30/kraft-heinz-co-khc-shares-bought-by-united-services-automobile-association.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.
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.