State Board of Administration of Florida Retirement System lessened its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 0.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 819,646 shares of the company’s stock after selling 970 shares during the period. State Board of Administration of Florida Retirement System owned 0.07% of Kraft Heinz worth $45,171,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Magellan Asset Management Ltd boosted its stake in shares of Kraft Heinz by 39.6% in the second quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock worth $2,112,094,000 after acquiring an additional 9,529,235 shares during the period. Federated Investors Inc. PA boosted its stake in shares of Kraft Heinz by 39,913.8% in the second quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock worth $214,038,000 after acquiring an additional 3,398,664 shares during the period. FMR LLC boosted its stake in shares of Kraft Heinz by 34.4% in the second quarter. FMR LLC now owns 8,254,817 shares of the company’s stock worth $518,567,000 after acquiring an additional 2,111,198 shares during the period. Levin Capital Strategies L.P. bought a new position in shares of Kraft Heinz in the third quarter worth about $84,501,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Kraft Heinz by 118.5% in the third quarter. Russell Investments Group Ltd. now owns 1,291,523 shares of the company’s stock worth $71,167,000 after acquiring an additional 700,541 shares during the period. 63.22% of the stock is owned by institutional investors and hedge funds.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $59.85, for a total transaction of $1,234,724,292.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 26.81% of the company’s stock.
NASDAQ:KHC opened at $50.73 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.57 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $61.85 billion, a P/E ratio of 14.29, a PEG ratio of 1.81 and a beta of 0.45. Kraft Heinz Co has a 12 month low of $50.41 and a 12 month high of $82.48.
Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Thursday, November 1st. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.31 billion. Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. Kraft Heinz’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. On average, equities research analysts anticipate that Kraft Heinz Co will post 3.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 16th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.50 dividend on an annualized basis and a yield of 4.93%. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.42%.
KHC has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. BidaskClub lowered Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 29th. ValuEngine raised Kraft Heinz from a “strong sell” rating to a “sell” rating in a research note on Friday, October 19th. Morgan Stanley initiated coverage on Kraft Heinz in a research report on Monday, September 17th. They issued an “underweight” rating and a $52.00 target price on the stock. Finally, Credit Suisse Group upgraded Kraft Heinz to a “hold” rating and set a $52.00 target price on the stock in a research report on Thursday, October 4th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $67.74.
Kraft Heinz Company Profile
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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