NEXT Financial Group Inc lifted its holdings in shares of Kraft Heinz Co (NASDAQ:KHC) by 95.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,311 shares of the company’s stock after acquiring an additional 5,033 shares during the period. NEXT Financial Group Inc’s holdings in Kraft Heinz were worth $444,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of KHC. Signition LP acquired a new stake in shares of Kraft Heinz during the 3rd quarter worth approximately $244,000. Engineers Gate Manager LP acquired a new stake in shares of Kraft Heinz during the 3rd quarter worth approximately $799,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Kraft Heinz by 4.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 26,457 shares of the company’s stock worth $1,458,000 after acquiring an additional 1,084 shares in the last quarter. Andesa Financial Management Inc. boosted its position in shares of Kraft Heinz by 6.6% during the 3rd quarter. Andesa Financial Management Inc. now owns 15,050 shares of the company’s stock worth $832,000 after acquiring an additional 933 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Kraft Heinz by 84.7% during the 3rd quarter. Private Advisor Group LLC now owns 93,712 shares of the company’s stock worth $5,164,000 after acquiring an additional 42,968 shares in the last quarter. Institutional investors and hedge funds own 62.30% of the company’s stock.
KHC has been the topic of several analyst reports. Barclays lowered shares of Kraft Heinz from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 22nd. Standpoint Research started coverage on shares of Kraft Heinz in a research note on Wednesday, December 26th. They issued a “buy” rating for the company. Deutsche Bank downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the company from $58.00 to $52.00 in a research note on Tuesday, February 5th. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Finally, Credit Suisse Group set a $33.00 price objective on shares of Kraft Heinz and gave the company an “underperform” rating in a research note on Friday, February 22nd. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $46.59.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, February 21st. The company reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.10). The company had revenue of $6.89 billion during the quarter, compared to the consensus estimate of $6.93 billion. Kraft Heinz had a negative net margin of 38.95% and a positive return on equity of 6.52%. Kraft Heinz’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. On average, research analysts forecast that Kraft Heinz Co will post 3.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Thursday, March 7th. Kraft Heinz’s payout ratio is currently 70.82%.
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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.
Further Reading: Earnings Per Share (EPS)
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