People s United Financial Inc. reduced its holdings in Kraft Heinz Co (NASDAQ:KHC) by 19.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,530 shares of the company’s stock after selling 5,460 shares during the quarter. People s United Financial Inc.’s holdings in Kraft Heinz were worth $1,242,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Magellan Asset Management Ltd boosted its stake in shares of Kraft Heinz by 39.6% in 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 during the last quarter. Federated Investors Inc. PA boosted 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 acquiring an additional 3,398,664 shares in the last quarter. FMR LLC boosted 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 buying an additional 2,111,198 shares in the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Kraft Heinz during the 3rd quarter valued at $84,501,000. Finally, BlackRock Inc. boosted its holdings in shares of Kraft Heinz by 2.8% during the 3rd 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. Hedge funds and other institutional investors own 62.63% of the company’s stock.
Shares of NASDAQ KHC opened at $48.71 on Friday. The stock has a market capitalization of $60.39 billion, a P/E ratio of 13.87, a PEG ratio of 2.21 and a beta of 0.45. 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 Co has a 52-week low of $48.51 and a 52-week high of $80.67.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Thursday, November 1st. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.31 billion. Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 earnings per share. As a group, research analysts forecast that Kraft Heinz Co will post 3.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 16th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.13%. The ex-dividend date of this dividend is Thursday, November 15th. Kraft Heinz’s payout ratio is currently 70.42%.
Several equities research analysts have recently commented on the stock. BidaskClub lowered shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Saturday, August 11th. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 27th. Morgan Stanley assumed coverage on Kraft Heinz in a report on Monday, September 17th. They set an “underweight” rating and a $52.00 price target on the stock. ValuEngine upgraded Kraft Heinz from a “strong sell” rating to a “sell” rating in a research note on Friday, October 19th. Finally, UBS Group set a $65.00 price target on Kraft Heinz and gave the company a “buy” rating in a research note on Friday, November 2nd. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Kraft Heinz has an average rating of “Hold” and a consensus price target of $66.89.
Kraft Heinz Company 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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