Mackay Shields LLC Acquires 3,095 Shares of Kraft Heinz Co (NASDAQ:KHC)

Mackay Shields LLC boosted its holdings in Kraft Heinz Co (NASDAQ:KHC) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,613 shares of the company’s stock after acquiring an additional 3,095 shares during the quarter. Mackay Shields LLC’s holdings in Kraft Heinz were worth $4,403,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Kraft Heinz by 1.3% in the second quarter. Vanguard Group Inc. now owns 48,427,138 shares of the company’s stock valued at $1,503,178,000 after acquiring an additional 630,178 shares during the period. BlackRock Inc. boosted its position in Kraft Heinz by 5.1% in the second quarter. BlackRock Inc. now owns 38,743,271 shares of the company’s stock valued at $1,202,590,000 after buying an additional 1,884,480 shares in the last quarter. Invesco Ltd. boosted its position in Kraft Heinz by 2.7% in the second quarter. Invesco Ltd. now owns 20,084,226 shares of the company’s stock valued at $623,415,000 after buying an additional 527,530 shares in the last quarter. Northern Trust Corp boosted its position in Kraft Heinz by 4.5% in the second quarter. Northern Trust Corp now owns 7,780,206 shares of the company’s stock valued at $241,497,000 after buying an additional 336,299 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its position in Kraft Heinz by 21.0% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 5,316,259 shares of the company’s stock valued at $148,510,000 after buying an additional 922,376 shares in the last quarter. 56.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of KHC stock traded up $0.13 during trading hours on Friday, reaching $32.85. 4,422,700 shares of the company were exchanged, compared to its average volume of 9,605,735. Kraft Heinz Co has a fifty-two week low of $24.86 and a fifty-two week high of $54.87. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.65. The company has a market cap of $40.19 billion, a price-to-earnings ratio of 9.31, a P/E/G ratio of 2.63 and a beta of 0.80. The stock’s fifty day moving average is $28.58 and its two-hundred day moving average is $29.56.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Thursday, October 31st. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $6.13 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was down 4.8% on a year-over-year basis. On average, research analysts anticipate that Kraft Heinz Co will post 2.78 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 payout ratio is presently 45.33%.

In other news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.44, for a total transaction of $712,952,605.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Damme Alexandre Van acquired 250,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were bought at an average cost of $28.45 per share, with a total value of $7,112,500.00. Following the transaction, the director now directly owns 8,168 shares of the company’s stock, valued at $232,379.60. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

A number of equities analysts have commented on the stock. Piper Jaffray Companies set a $33.00 price target on shares of Kraft Heinz and gave the company a “hold” rating in a research report on Friday, November 1st. BMO Capital Markets boosted their price target on shares of Kraft Heinz to $37.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Barclays set a $32.00 price target on shares of Kraft Heinz and gave the company a “hold” rating in a research report on Friday, November 1st. ValuEngine upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, UBS Group set a $30.00 price target on shares of Kraft Heinz and gave the company a “hold” rating in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average 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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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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