Symons Capital Management Inc. raised its holdings in shares of Kraft Heinz Co (NASDAQ:KHC) by 70.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,666 shares of the company’s stock after acquiring an additional 63,571 shares during the quarter. Kraft Heinz makes up about 2.0% of Symons Capital Management Inc.’s investment portfolio, making the stock its 28th biggest position. Symons Capital Management Inc.’s holdings in Kraft Heinz were worth $4,293,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. Lavaca Capital LLC increased its holdings in shares of Kraft Heinz by 20.3% in the third quarter. Lavaca Capital LLC now owns 22,602 shares of the company’s stock worth $631,000 after purchasing an additional 3,809 shares during the last quarter. Alps Advisors Inc. grew its position in Kraft Heinz by 1.3% in the third quarter. Alps Advisors Inc. now owns 1,184,805 shares of the company’s stock worth $33,098,000 after acquiring an additional 15,124 shares in the last quarter. Newport Trust Co grew its position in Kraft Heinz by 14,858.7% in the third quarter. Newport Trust Co now owns 4,788,421 shares of the company’s stock worth $133,765,000 after acquiring an additional 4,756,410 shares in the last quarter. Thompson Investment Management Inc. grew its position in Kraft Heinz by 308.5% in the third quarter. Thompson Investment Management Inc. now owns 170,867 shares of the company’s stock worth $4,773,000 after acquiring an additional 129,040 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Kraft Heinz by 5,741.0% in the third quarter. SG Americas Securities LLC now owns 773,817 shares of the company’s stock worth $21,617,000 after acquiring an additional 760,569 shares in the last quarter. 56.67% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. Wells Fargo & Co reiterated a “hold” rating on shares of Kraft Heinz in a research report on Tuesday, September 3rd. Guggenheim set a $25.00 price target on Kraft Heinz and gave the stock a “sell” rating in a research report on Monday, August 26th. Credit Suisse Group set a $26.00 price target on Kraft Heinz and gave the stock a “sell” rating in a research report on Friday, August 9th. UBS Group set a $30.00 price target on Kraft Heinz and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Zacks Investment Research lowered Kraft Heinz from a “hold” rating to a “sell” rating and set a $30.00 price target for the company. in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $34.26.
Shares of NASDAQ:KHC traded up $0.13 during trading hours on Friday, hitting $32.85. 4,422,700 shares of the company’s stock traded hands, compared to its average volume of 9,605,735. The business has a fifty day moving average price of $28.58 and a 200-day moving average price of $29.56. The firm has a market capitalization of $40.19 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 2.63 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.65. Kraft Heinz Co has a 1 year low of $24.86 and a 1 year high of $54.87.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.15. The business had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $6.13 billion. Kraft Heinz had a positive return on equity of 6.23% and a negative net margin of 42.85%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, equities analysts predict that Kraft Heinz Co will post 2.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend is Thursday, November 14th. Kraft Heinz’s payout ratio is presently 45.33%.
In other news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.44, for a total transaction of $712,952,605.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jorge P. Lemann acquired 3,496,503 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were bought at an average cost of $28.60 per share, for a total transaction of $99,999,985.80. Following the completion of the acquisition, the director now directly owns 3,516,449 shares of the company’s stock, valued at $100,570,441.40. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.
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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