The Kraft Heinz Company (KHC) Position Cut by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale trimmed its stake in The Kraft Heinz Company (NASDAQ:KHC) by 1.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 430,672 shares of the company’s stock after selling 5,835 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in The Kraft Heinz were worth $37,433,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. grew its stake in The Kraft Heinz by 16.6% during the second quarter. Westside Investment Management Inc. now owns 1,209 shares of the company’s stock worth $100,000 after buying an additional 172 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in The Kraft Heinz by 287.9% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,280 shares of the company’s stock worth $110,000 after buying an additional 950 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in The Kraft Heinz during the second quarter worth approximately $121,000. Blue Chip Partners Inc. grew its stake in The 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 buying an additional 8 shares during the period. Finally, GWM Advisors LLC purchased a new stake in The Kraft Heinz during the second quarter worth approximately $137,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.
Several research firms have issued reports on KHC. Susquehanna Bancshares reiterated a “neutral” rating and set a $85.00 price objective (down from $94.00) on shares of The Kraft Heinz in a research note on Wednesday, August 9th. BidaskClub upgraded shares of The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Zacks Investment Research upgraded shares of The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, August 21st. Morgan Stanley decreased their price objective on shares of The Kraft Heinz from $92.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. Finally, Berenberg Bank set a $102.00 price objective on shares of The Kraft Heinz and gave the stock a “buy” rating in a research note on Monday, August 7th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $92.49.
The Kraft Heinz Company (KHC) opened at $81.21 on Friday. The firm has a market cap of $99,146.74, a price-to-earnings ratio of 22.86, a PEG ratio of 2.25 and a beta of 0.44. The company has a quick ratio of 0.43, a current ratio of 0.77 and a debt-to-equity ratio of 0.48. The Kraft Heinz Company has a 52 week low of $75.21 and a 52 week high of $97.77.
The Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share for the quarter, meeting the consensus estimate of $0.83. The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.33 billion. The Kraft Heinz had a net margin of 15.03% and a return on equity of 7.49%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. analysts anticipate that The Kraft Heinz Company will post 3.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.50 annualized dividend and a dividend yield of 3.08%. The Kraft Heinz’s dividend payout ratio (DPR) is presently 77.88%.
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The Kraft Heinz Profile
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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