Sterling Capital Management LLC lessened its holdings in Kraft Heinz Co (NASDAQ:KHC) by 16.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 15,402 shares of the company’s stock after selling 3,036 shares during the period. Sterling Capital Management LLC’s holdings in Kraft Heinz were worth $1,194,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Kraft Heinz by 2,314.8% in the 1st quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock valued at $2,956,129,000 after acquiring an additional 31,204,852 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Kraft Heinz by 55.6% in the 1st quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock valued at $759,605,000 after acquiring an additional 2,988,664 shares during the last quarter. FMR LLC lifted its holdings in shares of Kraft Heinz by 30.0% in the 2nd quarter. FMR LLC now owns 11,516,822 shares of the company’s stock valued at $986,301,000 after acquiring an additional 2,659,846 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Kraft Heinz by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock valued at $3,827,601,000 after acquiring an additional 1,585,231 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Kraft Heinz in the 2nd quarter valued at about $102,151,000. Institutional investors and hedge funds own 62.02% of the company’s stock.
Kraft Heinz Co (NASDAQ KHC) traded down $0.76 during midday trading on Thursday, reaching $77.13. 3,493,296 shares of the company’s stock traded hands, compared to its average volume of 3,626,608. The company has a quick ratio of 0.43, a current ratio of 0.77 and a debt-to-equity ratio of 0.48. Kraft Heinz Co has a fifty-two week low of $75.21 and a fifty-two week high of $97.77. The stock has a market capitalization of $93,960.00 and a price-to-earnings ratio of 24.03.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. Kraft Heinz had a net margin of 15.03% and a return on equity of 7.49%. The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same period in the previous year, the company earned $0.83 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. analysts forecast that Kraft Heinz Co will post 3.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 17th were paid a dividend of $0.625 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.50 annualized dividend and a dividend yield of 3.24%. Kraft Heinz’s payout ratio is currently 77.88%.
Several brokerages have issued reports on KHC. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Friday, December 29th. Royal Bank of Canada reissued a “buy” rating and issued a $95.00 price objective on shares of Kraft Heinz in a research note on Tuesday, October 3rd. BidaskClub downgraded shares of Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 30th. Goldman Sachs Group downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and decreased their price target for the company from $95.00 to $87.00 in a research note on Wednesday, October 4th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $90.00 price target (down previously from $100.00) on shares of Kraft Heinz in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Kraft Heinz presently has an average rating of “Buy” and an average price target of $92.49.
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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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