Investors Research Corp boosted its position in The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,650 shares of the company’s stock after acquiring an additional 800 shares during the quarter. Investors Research Corp’s holdings in Kraft Heinz were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of KHC. Nordea Investment Management AB lifted its stake in shares of Kraft Heinz by 3,133.7% during the fourth quarter. Nordea Investment Management AB now owns 2,924,894 shares of the company’s stock worth $104,068,000 after purchasing an additional 2,834,444 shares in the last quarter. State Street Corp lifted its stake in shares of Kraft Heinz by 5.9% during the fourth quarter. State Street Corp now owns 31,946,383 shares of the company’s stock worth $1,146,875,000 after purchasing an additional 1,787,910 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Kraft Heinz by 531.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,045,300 shares of the company’s stock worth $73,426,000 after purchasing an additional 1,721,500 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of Kraft Heinz during the fourth quarter worth about $61,135,000. Finally, Geode Capital Management LLC lifted its stake in shares of Kraft Heinz by 13.2% during the fourth quarter. Geode Capital Management LLC now owns 13,708,881 shares of the company’s stock worth $491,431,000 after purchasing an additional 1,600,993 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.
Shares of KHC stock opened at $37.05 on Thursday. The Kraft Heinz Company has a 12-month low of $32.78 and a 12-month high of $44.87. The firm has a market capitalization of $45.35 billion, a price-to-earnings ratio of 37.42, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85. The business has a 50 day simple moving average of $40.09 and a 200 day simple moving average of $38.23. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.68.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, May 27th will be given a $0.40 dividend. The ex-dividend date is Thursday, May 26th. This represents a $1.60 dividend on an annualized basis and a yield of 4.32%. Kraft Heinz’s dividend payout ratio (DPR) is 161.62%.
In other Kraft Heinz news, EVP Marcos Eloi Lima sold 28,855 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $36.97, for a total value of $1,066,769.35. Following the completion of the sale, the executive vice president now directly owns 193,938 shares in the company, valued at $7,169,887.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Miguel Patricio sold 259,958 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $44.28, for a total value of $11,510,940.24. Following the completion of the sale, the chief executive officer now owns 1,897,433 shares of the company’s stock, valued at $84,018,333.24. The disclosure for this sale can be found here. Insiders sold 305,094 shares of company stock valued at $13,171,478 over the last 90 days. 1.40% of the stock is currently owned by insiders.
A number of brokerages have commented on KHC. UBS Group cut Kraft Heinz from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $40.00 to $34.00 in a research note on Thursday, May 26th. Credit Suisse Group boosted their price target on Kraft Heinz from $36.00 to $38.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on Kraft Heinz from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, February 23rd. BMO Capital Markets upgraded Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research note on Wednesday. Finally, StockNews.com initiated coverage on Kraft Heinz in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $39.29.
Kraft Heinz Company Profile (Get Rating)
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.
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