Prudential Financial Inc. decreased its position in Kraft Heinz Co (NASDAQ:KHC) by 0.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 835,730 shares of the company’s stock after selling 1,070 shares during the period. Prudential Financial Inc. owned about 0.07% of Kraft Heinz worth $64,811,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KHC. FMR LLC increased its holdings in Kraft Heinz by 30.0% in the second quarter. FMR LLC now owns 11,516,822 shares of the company’s stock valued at $986,301,000 after buying an additional 2,659,846 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Kraft Heinz in the second quarter valued at $102,151,000. Principal Financial Group Inc. increased its holdings in Kraft Heinz by 128.3% in the second quarter. Principal Financial Group Inc. now owns 1,932,498 shares of the company’s stock valued at $165,499,000 after buying an additional 1,086,062 shares in the last quarter. Pioneer Investment Management Inc. purchased a new position in Kraft Heinz in the second quarter valued at $79,757,000. Finally, Alliancebernstein L.P. increased its holdings in Kraft Heinz by 49.4% in the second quarter. Alliancebernstein L.P. now owns 2,658,122 shares of the company’s stock valued at $227,642,000 after buying an additional 878,768 shares in the last quarter. 62.02% of the stock is owned by institutional investors.
A number of analysts have recently commented on KHC shares. BidaskClub cut shares of Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 30th. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Friday, December 29th. Morgan Stanley cut their target price on shares of Kraft Heinz from $92.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. BMO Capital Markets cut their target price on shares of Kraft Heinz from $96.00 to $82.00 and set a “market perform” rating for the company in a research note on Thursday, November 2nd. Finally, Susquehanna Bancshares cut their target price on shares of Kraft Heinz from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. One investment 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 a consensus rating of “Buy” and a consensus target price of $92.49.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. Kraft Heinz had a net margin of 15.03% and a return on equity of 7.49%. The company had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter in the prior year, the company earned $0.83 EPS. Kraft Heinz’s revenue was up .7% compared to the same quarter last year. equities analysts expect that Kraft Heinz Co will post 3.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.50 annualized dividend and a yield of 3.21%. Kraft Heinz’s dividend payout ratio is presently 77.88%.
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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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