Gamco Investors INC. ET AL reduced its position in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 7.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 400,586 shares of the company’s stock after selling 32,245 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Kraft Heinz were worth $14,221,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of KHC. Good Life Advisors LLC lifted its position in Kraft Heinz by 3.5% during the first 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 last quarter. Ellevest Inc. lifted its position in Kraft Heinz by 30.6% during the first quarter. Ellevest Inc. now owns 1,062 shares of the company’s stock valued at $41,000 after purchasing an additional 249 shares during the last quarter. Greenleaf Trust lifted its position in Kraft Heinz by 1.5% during the first quarter. Greenleaf Trust now owns 17,210 shares of the company’s stock valued at $666,000 after purchasing an additional 257 shares during the last quarter. Ancora Advisors LLC lifted its position in Kraft Heinz by 69.9% during the first quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock valued at $26,000 after purchasing an additional 272 shares during the last quarter. Finally, Beacon Capital Management LLC lifted its position in Kraft Heinz by 49.0% during the second quarter. Beacon Capital Management LLC now owns 876 shares of the company’s stock valued at $31,000 after purchasing an additional 288 shares during the last quarter. 75.39% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have issued reports on KHC shares. HSBC started coverage on shares of Kraft Heinz in a research report on Friday, September 22nd. They set a “hold” rating and a $38.00 target price for the company. Barclays lowered their price objective on shares of Kraft Heinz from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, October 12th. Sanford C. Bernstein upgraded shares of Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Tuesday, November 14th. TD Cowen started coverage on shares of Kraft Heinz in a report on Wednesday, September 13th. They issued a “market perform” rating and a $35.00 price objective for the company. Finally, Morgan Stanley lowered their price objective 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $40.50.
Kraft Heinz Stock Up 0.4 %
Shares of NASDAQ KHC opened at $33.79 on Tuesday. 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 firm’s fifty day moving average is $32.85 and its 200 day moving average is $34.98. The company has a market cap of $41.44 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 2.44 and a beta of 0.69. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $42.80.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. The business had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.70 billion. Kraft Heinz had a net margin of 11.00% and a return on equity of 7.63%. 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. On average, equities research analysts expect that The Kraft Heinz Company will post 2.96 earnings per share for the current year.
Kraft Heinz Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Thursday, November 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 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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