Mirae Asset Global Investments Co. Ltd. trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,376,019 shares of the company’s stock after selling 2,378 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.11% of Kraft Heinz worth $48,838,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in KHC. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Kraft Heinz by 98,074.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 52,181,724 shares of the company’s stock worth $1,852,451,000 after purchasing an additional 52,128,572 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Kraft Heinz by 1,835.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock worth $794,964,000 after purchasing an additional 18,518,584 shares during the last quarter. BlackRock Inc. lifted its holdings in Kraft Heinz by 10.4% during the 1st quarter. BlackRock Inc. now owns 76,422,467 shares of the company’s stock worth $2,955,257,000 after purchasing an additional 7,196,843 shares during the last quarter. Capital World Investors lifted its holdings in Kraft Heinz by 96.5% during the 1st quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock worth $524,360,000 after purchasing an additional 6,537,000 shares during the last quarter. Finally, Norges Bank acquired a new stake in Kraft Heinz during the 4th quarter worth approximately $252,224,000. 75.39% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
KHC has been the subject of several research reports. HSBC initiated coverage on Kraft Heinz in a report on Friday, September 22nd. They set a “hold” rating and a $38.00 price target for the company. Piper Sandler lifted their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, November 2nd. Bank of America dropped their price objective on Kraft Heinz from $48.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. StockNews.com assumed coverage on Kraft Heinz in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Barclays dropped their price objective on Kraft Heinz from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.50.
Kraft Heinz Trading Down 0.4 %
Shares of KHC opened at $33.66 on Friday. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $42.80. The business’s fifty day moving average is $32.85 and its 200-day moving average is $35.07. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.52 and a current ratio of 1.00. The firm has a market cap of $41.29 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 2.44 and a beta of 0.69.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.06. Kraft Heinz had a return on equity of 7.63% and a net margin of 11.00%. The company had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same quarter last year, the company posted $0.63 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that The Kraft Heinz Company will post 2.96 EPS for the current fiscal year.
Kraft Heinz Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.75%. Kraft Heinz’s dividend payout ratio is currently 66.12%.
About Kraft Heinz
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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