M Holdings Securities Inc. purchased a new stake in shares of Kraft Heinz Company (NASDAQ:KHC – Free Report) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 50,167 shares of the company’s stock, valued at approximately $1,250,000.
Other hedge funds also recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC acquired a new stake in Kraft Heinz during the first quarter worth $27,000. Hara Capital LLC acquired a new position in shares of Kraft Heinz in the 2nd quarter valued at $29,000. Fiduciary Financial Advisors acquired a new position in shares of Kraft Heinz in the 2nd quarter valued at $33,000. Reyes Financial Architecture Inc. grew its holdings in shares of Kraft Heinz by 5,820.8% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 1,421 shares of the company’s stock worth $32,000 after purchasing an additional 1,397 shares during the period. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Kraft Heinz during the 2nd quarter worth $34,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
KHC has been the subject of a number of recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $32.00 price objective on shares of Kraft Heinz in a research report on Thursday, September 24th. Barclays decreased their target price on shares of Kraft Heinz from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. Weiss Ratings lowered shares of Kraft Heinz from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Wall Street Zen lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Evercore set a $24.00 price target on shares of Kraft Heinz in a research report on Thursday, August 6th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $23.80.
Read Our Latest Report on Kraft Heinz
Kraft Heinz Stock Down 0.8%
Shares of NASDAQ KHC opened at $24.41 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.06 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $23.98 and its two-hundred day moving average is $23.93. Kraft Heinz Company has a 52-week low of $21.03 and a 52-week high of $28.09. The firm has a market cap of $28.90 billion, a price-to-earnings ratio of -8.54, a PEG ratio of 2.99 and a beta of 0.12.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.42 by $0.11. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%. The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same period last year, the business posted $0.61 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Research analysts predict that Kraft Heinz Company will post 2.06 EPS for the current year.
Kraft Heinz Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Friday, December 4th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Friday, December 4th. Kraft Heinz’s payout ratio is currently -54.79%.
Kraft Heinz Company Profile
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