M&T Bank Corp trimmed its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,335 shares of the company’s stock after selling 9,806 shares during the quarter. M&T Bank Corp’s holdings in Kraft Heinz were worth $6,293,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KHC. FDx Advisors Inc. purchased a new stake in shares of Kraft Heinz in the 1st quarter valued at about $32,262,000. Prudential PLC purchased a new stake in shares of Kraft Heinz in the 1st quarter valued at about $71,466,000. First Eagle Investment Management LLC lifted its holdings in shares of Kraft Heinz by 30.3% in the 1st quarter. First Eagle Investment Management LLC now owns 7,174,040 shares of the company’s stock valued at $177,486,000 after purchasing an additional 1,669,633 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Kraft Heinz by 8.3% in the 1st quarter. Franklin Resources Inc. now owns 21,527,997 shares of the company’s stock valued at $532,603,000 after purchasing an additional 1,642,137 shares during the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of Kraft Heinz by 1,967.2% in the 1st quarter. APG Asset Management N.V. now owns 1,655,187 shares of the company’s stock valued at $48,129,000 after purchasing an additional 1,575,117 shares during the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on KHC. Morgan Stanley upped their price objective on Kraft Heinz from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday. Wells Fargo & Co raised Kraft Heinz from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $28.00 to $38.00 in a research note on Thursday, April 16th. Goldman Sachs Group downgraded Kraft Heinz from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $32.00 to $30.00 in a research note on Monday, June 22nd. Piper Sandler raised Kraft Heinz from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $30.00 to $39.00 in a research note on Tuesday, July 28th. Finally, JPMorgan Chase & Co. upped their price objective on Kraft Heinz from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.95.
KHC opened at $34.38 on Friday. The stock has a market cap of $42.01 billion, a P/E ratio of -229.20, a P/E/G ratio of 2.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.09 and a quick ratio of 1.12. The stock’s 50 day simple moving average is $32.93 and its 200 day simple moving average is $29.36. Kraft Heinz Co has a 1-year low of $19.99 and a 1-year high of $35.87.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.15. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. Kraft Heinz had a positive return on equity of 6.68% and a negative net margin of 0.76%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. Research analysts expect that Kraft Heinz Co will post 2.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, August 28th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date is Thursday, August 27th. Kraft Heinz’s dividend payout ratio is currently 56.14%.
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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