KCM Investment Advisors LLC cut its position in Kraft Heinz Co (NASDAQ:KHC) by 10.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,817 shares of the company’s stock after selling 3,324 shares during the quarter. KCM Investment Advisors LLC’s holdings in Kraft Heinz were worth $2,319,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of KHC. Albion Financial Group UT increased its stake in Kraft Heinz by 2.5% during the 4th quarter. Albion Financial Group UT now owns 48,950 shares of the company’s stock valued at $3,806,000 after buying an additional 1,193 shares during the period. Xact Kapitalforvaltning AB increased its stake in Kraft Heinz by 4.4% during the 4th quarter. Xact Kapitalforvaltning AB now owns 113,588 shares of the company’s stock valued at $8,833,000 after buying an additional 4,803 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Kraft Heinz by 5.1% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 363,311 shares of the company’s stock valued at $28,251,000 after buying an additional 17,607 shares during the period. Ashburton Jersey Ltd acquired a new position in Kraft Heinz during the 4th quarter valued at about $8,472,000. Finally, We Are One Seven LLC acquired a new position in Kraft Heinz during the 4th quarter valued at about $107,000. Hedge funds and other institutional investors own 63.22% of the company’s stock.
Several equities analysts have commented on the stock. Societe Generale assumed coverage on shares of Kraft Heinz in a research note on Thursday, March 15th. They set a “sell” rating on the stock. Zacks Investment Research cut shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. Argus reissued a “buy” rating and set a $74.00 target price (down previously from $93.00) on shares of Kraft Heinz in a research note on Wednesday, March 7th. Credit Suisse Group raised shares of Kraft Heinz to a “buy” rating and set a $77.00 target price on the stock in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $81.00 price objective (down previously from $87.00) on shares of Kraft Heinz in a research note on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $85.78.
Kraft Heinz (NASDAQ:KHC) last released its earnings results on Friday, February 16th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.06). The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.91 billion. Kraft Heinz had a return on equity of 7.20% and a net margin of 41.93%. The business’s revenue was up .3% on a year-over-year basis. During the same period last year, the business earned $0.08 earnings per share. research analysts expect that Kraft Heinz Co will post 3.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Thursday, March 8th. Kraft Heinz’s dividend payout ratio (DPR) is currently 27.90%.
Kraft Heinz Company 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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