Gamco Investors INC. ET AL decreased its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 24.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,640 shares of the company’s stock after selling 25,301 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Kraft Heinz were worth $2,141,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of KHC. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Kraft Heinz by 22.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 654,151 shares of the company’s stock worth $21,358,000 after acquiring an additional 121,281 shares during the last quarter. Thomasville National Bank bought a new position in shares of Kraft Heinz in the second quarter worth about $1,114,000. RK Asset Management LLC lifted its holdings in shares of Kraft Heinz by 4.1% in the second quarter. RK Asset Management LLC now owns 139,356 shares of the company’s stock worth $4,326,000 after acquiring an additional 5,520 shares during the last quarter. DNB Asset Management AS lifted its holdings in shares of Kraft Heinz by 2.8% in the second quarter. DNB Asset Management AS now owns 84,308 shares of the company’s stock worth $2,617,000 after acquiring an additional 2,335 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of Kraft Heinz by 66.1% in the second quarter. Foundations Investment Advisors LLC now owns 34,274 shares of the company’s stock worth $1,071,000 after acquiring an additional 13,637 shares during the last quarter. 56.67% of the stock is owned by institutional investors and hedge funds.
NASDAQ:KHC traded up $0.13 on Friday, reaching $32.85. 4,422,700 shares of the stock traded hands, compared to its average volume of 9,605,735. The company’s 50 day moving average is $28.58 and its 200-day moving average is $29.56. Kraft Heinz Co has a 1-year low of $24.86 and a 1-year high of $54.87. The company has a current ratio of 1.00, a quick ratio of 0.65 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $40.19 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 2.63 and a beta of 0.80.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.15. Kraft Heinz had a negative net margin of 42.85% and a positive return on equity of 6.23%. The business had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $6.13 billion. During the same quarter last year, the firm posted $0.78 EPS. Kraft Heinz’s revenue was down 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Kraft Heinz Co will post 2.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.87%. The ex-dividend date is Thursday, November 14th. Kraft Heinz’s payout ratio is currently 45.33%.
In related news, Director Jorge P. Lemann acquired 3,496,503 shares of the company’s stock in a transaction on Monday, September 16th. The shares were acquired at an average cost of $28.60 per share, for a total transaction of $99,999,985.80. Following the purchase, the director now owns 3,516,449 shares in the company, valued at $100,570,441.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.44, for a total value of $712,952,605.08. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.
A number of research analysts have recently commented on the stock. Wells Fargo & Co reissued a “hold” rating on shares of Kraft Heinz in a report on Tuesday, September 3rd. Credit Suisse Group set a $26.00 price objective on shares of Kraft Heinz and gave the company a “sell” rating in a report on Friday, August 9th. BMO Capital Markets raised their price objective on shares of Kraft Heinz to $37.00 and gave the company a “market perform” rating in a report on Friday, November 1st. ValuEngine upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Barclays set a $32.00 price objective on shares of Kraft Heinz and gave the company a “hold” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company’s stock. Kraft Heinz has an average rating of “Hold” and a consensus target price of $34.26.
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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