HBC Financial Services PLLC increased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 88.4% in the 4th quarter, HoldingsChannel reports. The firm owned 4,263 shares of the company’s stock after buying an additional 2,000 shares during the quarter. HBC Financial Services PLLC’s holdings in Kraft Heinz were worth $130,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC increased its holdings in Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Kraft Heinz during the 3rd quarter valued at about $411,304,000. Legal & General Group Plc lifted its position in shares of Kraft Heinz by 9.7% during the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after purchasing an additional 799,581 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after buying an additional 1,238,200 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the sale, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is currently owned by insiders.
Kraft Heinz Trading Up 1.0 %
Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter last year, the business posted $0.72 EPS. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts forecast that The Kraft Heinz Company will post 3 EPS for the current fiscal year.
Kraft Heinz Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date of this dividend was Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on KHC shares. Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Barclays dropped their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company cut their target price on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group dropped their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Finally, TD Cowen cut their target price on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.23.
Read Our Latest Stock Report on KHC
Kraft Heinz Company Profile
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.
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