Checchi Capital Advisers LLC decreased its position in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 5.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,616 shares of the company’s stock after selling 690 shares during the period. Checchi Capital Advisers LLC’s holdings in Kraft Heinz were worth $412,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in KHC. Good Life Advisors LLC grew its position in shares of Kraft Heinz by 3.5% in the 1st quarter. Good Life Advisors LLC now owns 7,199 shares of the company’s stock valued at $278,000 after purchasing an additional 243 shares during the period. Ellevest Inc. boosted its holdings in shares of Kraft Heinz by 30.6% in the first quarter. Ellevest Inc. now owns 1,062 shares of the company’s stock valued at $41,000 after buying an additional 249 shares during the period. Greenleaf Trust boosted its stake in Kraft Heinz by 1.5% in the 1st quarter. Greenleaf Trust now owns 17,210 shares of the company’s stock worth $666,000 after purchasing an additional 257 shares during the period. Ancora Advisors LLC boosted its stake in Kraft Heinz by 69.9% in the 1st quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock worth $26,000 after purchasing an additional 272 shares during the period. Finally, Beacon Capital Management LLC boosted its stake in Kraft Heinz by 49.0% in the 2nd quarter. Beacon Capital Management LLC now owns 876 shares of the company’s stock worth $31,000 after purchasing an additional 288 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on KHC. TD Cowen began coverage on Kraft Heinz in a research report on Wednesday, September 13th. They set a “market perform” rating and a $35.00 price objective for the company. Barclays reduced their price target on Kraft Heinz from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, October 12th. Morgan Stanley reduced their target price on shares of Kraft Heinz from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, November 2nd. Piper Sandler increased their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, November 2nd. Finally, Bank of America reduced their target price on shares of Kraft Heinz from $48.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.50.
Kraft Heinz Price Performance
Shares of Kraft Heinz stock opened at $33.66 on Friday. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $42.80. The company has a quick ratio of 0.52, a current ratio of 1.00 and a debt-to-equity ratio of 0.39. The company has a 50-day simple moving average of $32.85 and a two-hundred day simple moving average of $35.10. The stock has a market capitalization of $41.29 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.06. The firm had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.70 billion. Kraft Heinz had a return on equity of 7.63% and a net margin of 11.00%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. Analysts forecast that The Kraft Heinz Company will post 2.96 EPS for the current year.
Kraft Heinz Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.60 annualized dividend and a yield of 4.75%. Kraft Heinz’s dividend payout ratio is currently 66.12%.
Kraft Heinz Profile
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.
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