Franklin Resources Inc. lowered its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 8.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 862,777 shares of the company’s stock after selling 84,062 shares during the quarter. Franklin Resources Inc. owned 0.07% of Kraft Heinz worth $47,547,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in 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 during the last quarter. Magellan Asset Management Ltd increased its holdings in 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 during the last quarter. FMR LLC increased its holdings in 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 during the last quarter. Northern Trust Corp increased its holdings in 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 during the last quarter. Finally, Federated Investors Inc. PA increased its holdings in 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 during the last quarter. 62.63% of the stock is currently owned by institutional investors and hedge funds.
KHC has been the topic of several recent analyst reports. Zacks Investment Research lowered Kraft Heinz from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. BidaskClub lowered Kraft Heinz from a “sell” rating to a “strong sell” rating in a report on Saturday, September 29th. ValuEngine raised Kraft Heinz from a “strong sell” rating to a “sell” rating in a report on Friday, October 19th. Morgan Stanley began coverage on Kraft Heinz in a report on Monday, September 17th. They set an “underweight” rating and a $52.00 price objective on the stock. Finally, Credit Suisse Group raised Kraft Heinz to a “hold” rating and set a $52.00 price objective on the stock in a report on Thursday, October 4th. Six analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $66.89.
Shares of KHC stock opened at $48.71 on Friday. The stock has a market cap of $60.39 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.21 and a beta of 0.45. Kraft Heinz Co has a 1 year low of $48.51 and a 1 year high of $80.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.57 and a current ratio of 1.00.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.03). The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 EPS. Analysts predict that Kraft Heinz Co will post 3.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 5.13%. The ex-dividend date is Thursday, November 15th. Kraft Heinz’s payout ratio is 70.42%.
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About Kraft Heinz
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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