Capital World Investors Sells 28,111,087 Shares of Kraft Heinz Co (KHC)
Capital World Investors decreased its holdings in shares of Kraft Heinz Co (NASDAQ:KHC) by 98.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 453,209 shares of the company’s stock after selling 28,111,087 shares during the quarter. Capital World Investors’ holdings in Kraft Heinz were worth $24,976,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in KHC. Magellan Asset Management Ltd boosted its holdings in Kraft Heinz by 39.6% during the second quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock worth $2,112,094,000 after purchasing an additional 9,529,235 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in Kraft Heinz by 39,913.8% during the second quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock worth $214,038,000 after purchasing an additional 3,398,664 shares during the last quarter. FMR LLC boosted its holdings in Kraft Heinz by 34.4% during the second quarter. FMR LLC now owns 8,254,817 shares of the company’s stock worth $518,567,000 after purchasing an additional 2,111,198 shares during the last quarter. Levin Capital Strategies L.P. acquired a new position in Kraft Heinz during the third quarter worth $84,501,000. Finally, BlackRock Inc. boosted its holdings in Kraft Heinz by 2.8% during the third quarter. BlackRock Inc. now owns 36,036,271 shares of the company’s stock worth $1,985,959,000 after purchasing an additional 997,088 shares during the last quarter. Institutional investors and hedge funds own 62.62% of the company’s stock.
Several research analysts recently commented on KHC shares. Morgan Stanley set a $49.00 target price on shares of Kraft Heinz and gave the stock a “sell” rating in a report on Wednesday, November 7th. Bank of America set a $83.00 target price on shares of Kraft Heinz and gave the stock a “buy” rating in a report on Friday, November 2nd. Zacks Investment Research cut shares of Kraft Heinz from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. BidaskClub lowered shares of Kraft Heinz from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 29th. Finally, Piper Jaffray Companies set a $62.00 price target on shares of Kraft Heinz and gave the stock a “buy” rating in a research report on Friday, November 2nd. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $66.89.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 period last year, the company posted $0.83 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Kraft Heinz Co will post 3.64 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 16th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.34%. The ex-dividend date was Thursday, November 15th. Kraft Heinz’s dividend payout ratio (DPR) is currently 70.42%.
About Kraft Heinz
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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