Parsons Capital Management Inc. RI decreased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,733 shares of the company’s stock after selling 1,523 shares during the period. Parsons Capital Management Inc. RI’s holdings in The Kraft Heinz were worth $1,840,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of The Kraft Heinz by 2,314.8% in the 1st quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock worth $2,956,129,000 after acquiring an additional 31,204,852 shares during the period. Morgan Stanley grew its holdings in shares of The Kraft Heinz by 55.6% in the 1st quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock worth $759,605,000 after acquiring an additional 2,988,664 shares during the period. FMR LLC grew its holdings in shares of The Kraft Heinz by 30.0% in the 2nd quarter. FMR LLC now owns 11,516,822 shares of the company’s stock worth $986,301,000 after acquiring an additional 2,659,846 shares during the period. Vanguard Group Inc. grew its holdings in shares of The Kraft Heinz by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock worth $3,827,601,000 after acquiring an additional 1,585,231 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of The Kraft Heinz in the 2nd quarter worth approximately $102,151,000. Institutional investors own 61.79% of the company’s stock.
A number of equities research analysts recently weighed in on KHC shares. Zacks Investment Research cut The Kraft Heinz from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Susquehanna Bancshares Inc restated a “hold” rating on shares of The Kraft Heinz in a report on Tuesday, August 1st. BMO Capital Markets reduced their target price on The Kraft Heinz from $96.00 to $82.00 and set a “market perform” rating on the stock in a research note on Thursday, November 2nd. BidaskClub raised The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Finally, Citigroup Inc. reduced their target price on The Kraft Heinz from $90.00 to $82.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $92.49.
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The Kraft Heinz Company (KHC) opened at $79.82 on Thursday. The Kraft Heinz Company has a 52 week low of $75.21 and a 52 week high of $97.77. The firm has a market capitalization of $97,489.63, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.22 and a beta of 0.43. The company has a current ratio of 0.77, a quick ratio of 0.43 and a debt-to-equity ratio of 0.48.
The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.83. The Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the company posted $0.83 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. sell-side analysts expect that The Kraft Heinz Company will post 3.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Thursday, November 16th. The Kraft Heinz’s dividend payout ratio is presently 77.88%.
The Kraft Heinz Profile
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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