Traders Buy Kraft Heinz (KHC) on Weakness
Traders purchased shares of Kraft Heinz Co (NASDAQ:KHC) on weakness during trading hours on Thursday. $81.08 million flowed into the stock on the tick-up and $29.02 million flowed out of the stock on the tick-down, for a money net flow of $52.06 million into the stock. Of all companies tracked, Kraft Heinz had the 13th highest net in-flow for the day. Kraft Heinz traded down ($0.30) for the day and closed at $78.98
Several analysts have recently weighed in on KHC shares. BMO Capital Markets reduced their target price on Kraft Heinz from $96.00 to $82.00 and set a “market perform” rating for the company in a report on Thursday, November 2nd. BidaskClub raised Kraft Heinz from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Citigroup reduced their target price on Kraft Heinz from $90.00 to $82.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Piper Jaffray Companies raised Kraft Heinz from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $92.00 to $90.00 in a report on Friday, October 6th. Finally, Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $92.49.
The stock has a market cap of $96,234.61, a PE ratio of 22.18, a PEG ratio of 2.19 and a beta of 0.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.43 and a current ratio of 0.77.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. equities analysts forecast that Kraft Heinz Co will post 3.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 3.14%. The ex-dividend date was Thursday, November 16th. Kraft Heinz’s dividend payout ratio (DPR) is presently 77.88%.
A number of hedge funds have recently modified their holdings of KHC. BlackRock Inc. increased its position in Kraft Heinz by 2,314.8% during the 1st quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock worth $2,956,129,000 after purchasing an additional 31,204,852 shares during the period. Morgan Stanley increased its position in Kraft Heinz by 55.6% during the 1st quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock worth $759,605,000 after purchasing an additional 2,988,664 shares during the period. FMR LLC increased its position in Kraft Heinz by 30.0% during the 2nd quarter. FMR LLC now owns 11,516,822 shares of the company’s stock worth $986,301,000 after purchasing an additional 2,659,846 shares during the period. Vanguard Group Inc. increased its position in Kraft Heinz by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock worth $3,827,601,000 after purchasing an additional 1,585,231 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Kraft Heinz during the 2nd quarter worth approximately $102,151,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.
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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