Gabelli Funds LLC trimmed its stake in Kraft Heinz Co (NASDAQ:KHC) by 64.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 88,700 shares of the company’s stock after selling 161,200 shares during the quarter. Gabelli Funds LLC’s holdings in Kraft Heinz were worth $2,478,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of KHC. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Kraft Heinz by 22.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 654,151 shares of the company’s stock valued at $21,358,000 after purchasing an additional 121,281 shares during the period. Thomasville National Bank acquired a new position in shares of Kraft Heinz during the second quarter valued at $1,114,000. RK Asset Management LLC increased its holdings in shares of Kraft Heinz by 4.1% during the second quarter. RK Asset Management LLC now owns 139,356 shares of the company’s stock valued at $4,326,000 after purchasing an additional 5,520 shares during the period. DNB Asset Management AS increased its holdings in shares of Kraft Heinz by 2.8% during the second quarter. DNB Asset Management AS now owns 84,308 shares of the company’s stock valued at $2,617,000 after purchasing an additional 2,335 shares during the period. Finally, Foundations Investment Advisors LLC increased its holdings in shares of Kraft Heinz by 66.1% during the second quarter. Foundations Investment Advisors LLC now owns 34,274 shares of the company’s stock valued at $1,071,000 after purchasing an additional 13,637 shares during the period. Institutional investors own 56.67% of the company’s stock.
NASDAQ KHC traded up $0.13 during trading on Friday, reaching $32.85. 4,422,700 shares of the company’s stock were exchanged, compared to its average volume of 9,605,735. The firm has a market capitalization of $40.19 billion, a PE ratio of 9.31, a P/E/G ratio of 2.63 and a beta of 0.80. The company has a current ratio of 1.00, a quick ratio of 0.65 and a debt-to-equity ratio of 0.54. Kraft Heinz Co has a fifty-two week low of $24.86 and a fifty-two week high of $54.87. The company’s fifty day simple moving average is $28.58 and its 200-day simple moving average is $29.56.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.15. The business had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $6.13 billion. Kraft Heinz had a positive return on equity of 6.23% and a negative net margin of 42.85%. Kraft Heinz’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. Equities analysts forecast that Kraft Heinz Co will post 2.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Thursday, November 14th. Kraft Heinz’s dividend payout ratio is 45.33%.
A number of research analysts recently issued reports on KHC shares. Zacks Investment Research lowered Kraft Heinz from a “hold” rating to a “sell” rating and set a $30.00 target price on the stock. in a report on Tuesday, October 22nd. BMO Capital Markets lifted their target price on Kraft Heinz to $37.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Barclays set a $32.00 target price on Kraft Heinz and gave the stock a “hold” rating in a report on Friday, November 1st. Bank of America set a $32.00 target price on Kraft Heinz and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, ValuEngine raised Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Four 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. Kraft Heinz has an average rating of “Hold” and a consensus target price of $34.26.
In related news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.44, for a total value of $712,952,605.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Damme Alexandre Van purchased 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was bought at an average cost of $28.45 per share, for a total transaction of $7,112,500.00. Following the purchase, the director now owns 8,168 shares in the company, valued at $232,379.60. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.
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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