HM Payson & Co. decreased its position in Kraft Heinz Co (NASDAQ:KHC) by 15.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,964 shares of the company’s stock after selling 4,602 shares during the quarter. HM Payson & Co.’s holdings in Kraft Heinz were worth $1,376,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GFS Advisors LLC increased its position in shares of Kraft Heinz by 64.6% in the third quarter. GFS Advisors LLC now owns 106,149 shares of the company’s stock valued at $5,850,000 after acquiring an additional 41,666 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Kraft Heinz in the third quarter valued at about $158,000. Vanguard Group Inc. increased its position in shares of Kraft Heinz by 2.5% in the third quarter. Vanguard Group Inc. now owns 46,457,007 shares of the company’s stock valued at $2,560,246,000 after acquiring an additional 1,123,288 shares during the last quarter. Morgan Stanley increased its position in shares of Kraft Heinz by 3.9% in the third quarter. Morgan Stanley now owns 12,113,755 shares of the company’s stock valued at $667,589,000 after acquiring an additional 451,572 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Kraft Heinz by 6.0% in the third quarter. Legal & General Group Plc now owns 3,065,442 shares of the company’s stock valued at $168,904,000 after acquiring an additional 174,254 shares during the last quarter. 63.99% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. Zacks Investment Research downgraded Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Wednesday, September 5th. Bank of America set a $85.00 target price on Kraft Heinz and gave the company a “buy” rating in a research report on Monday, August 6th. BidaskClub raised Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. BMO Capital Markets reduced their price target on Kraft Heinz from $67.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, November 5th. Finally, Susquehanna Bancshares reiterated a “negative” rating and set a $47.00 price target (down previously from $59.00) on shares of Kraft Heinz in a report on Friday, November 2nd. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $66.89.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The company’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Kraft Heinz Co will post 3.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 16th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Thursday, November 15th. Kraft Heinz’s dividend payout ratio is presently 70.42%.
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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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