Dimensional Fund Advisors LP increased its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,022,817 shares of the company’s stock after purchasing an additional 17,465 shares during the quarter. Dimensional Fund Advisors LP owned 0.25% of Kraft Heinz worth $234,426,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Blue Chip Partners Inc. lifted its holdings in shares of Kraft Heinz by 0.5% during the second quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock worth $127,000 after purchasing an additional 8 shares during the period. Martingale Asset Management L P lifted its holdings in shares of Kraft Heinz by 0.5% during the second quarter. Martingale Asset Management L P now owns 2,724 shares of the company’s stock worth $234,000 after purchasing an additional 13 shares during the period. Guardian Life Insurance Co. of America lifted its holdings in Kraft Heinz by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,301 shares of the company’s stock valued at $209,000 after acquiring an additional 16 shares during the period. Ropes Wealth Advisors LLC lifted its holdings in Kraft Heinz by 0.4% in the second quarter. Ropes Wealth Advisors LLC now owns 3,841 shares of the company’s stock valued at $329,000 after acquiring an additional 17 shares during the period. Finally, National Asset Management Inc. lifted its holdings in Kraft Heinz by 0.5% in the first quarter. National Asset Management Inc. now owns 4,477 shares of the company’s stock valued at $408,000 after acquiring an additional 21 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on KHC. BidaskClub downgraded Kraft Heinz from a “hold” rating to a “sell” rating in a report on Saturday, December 9th. Royal Bank of Canada reissued a “buy” rating and issued a $95.00 target price on shares of Kraft Heinz in a report on Tuesday, October 3rd. Piper Jaffray Companies set a $92.00 target price on Kraft Heinz and gave the company a “hold” rating in a report on Wednesday, August 16th. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “hold” rating in a report on Monday, August 21st. Finally, Goldman Sachs Group downgraded Kraft Heinz from a “buy” rating to a “neutral” rating and reduced their target price for the company from $95.00 to $87.00 in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. Kraft Heinz currently has an average rating of “Buy” and an average target price of $92.49.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.83. Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter last year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. sell-side analysts forecast that Kraft Heinz Co will post 3.61 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Thursday, November 16th. Kraft Heinz’s dividend payout ratio is currently 77.88%.
About Kraft Heinz
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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