Quintet Private Bank Europe S.A. raised its holdings in shares of Kraft Heinz Company (NASDAQ:KHC – Free Report) by 82.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,149 shares of the company’s stock after purchasing an additional 42,430 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in Kraft Heinz were worth $2,139,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Waverly Advisors LLC grew its stake in Kraft Heinz by 3.9% in the second quarter. Waverly Advisors LLC now owns 11,438 shares of the company’s stock valued at $270,000 after purchasing an additional 433 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Kraft Heinz by 19.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,097 shares of the company’s stock worth $73,000 after acquiring an additional 508 shares in the last quarter. Triumph Capital Management grew its holdings in Kraft Heinz by 14.4% in the second quarter. Triumph Capital Management now owns 4,042 shares of the company’s stock worth $95,000 after purchasing an additional 509 shares during the last quarter. Van Hulzen Asset Management LLC increased its position in shares of Kraft Heinz by 5.6% during the second quarter. Van Hulzen Asset Management LLC now owns 10,029 shares of the company’s stock worth $237,000 after purchasing an additional 529 shares in the last quarter. Finally, Cohen Investment Advisors LLC lifted its holdings in shares of Kraft Heinz by 4.6% during the 1st quarter. Cohen Investment Advisors LLC now owns 13,522 shares of the company’s stock valued at $304,000 after purchasing an additional 592 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.
Kraft Heinz Stock Performance
KHC traded up $0.34 on Thursday, reaching $22.32. The stock had a trading volume of 12,540,422 shares, compared to its average volume of 15,926,678. The business’s 50-day moving average price is $24.67 and its two-hundred day moving average price is $23.95. The company has a market cap of $26.46 billion, a P/E ratio of -7.82, a price-to-earnings-growth ratio of 2.99 and a beta of 0.12. Kraft Heinz Company has a 12-month low of $21.03 and a 12-month high of $28.09. The company has a current ratio of 1.06, a quick ratio of 0.68 and a debt-to-equity ratio of 0.49.
Kraft Heinz Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.60 dividend on an annualized basis and a yield of 7.2%. Kraft Heinz’s dividend payout ratio (DPR) is currently -55.94%.
Wall Street Analyst Weigh In
KHC has been the subject of a number of recent analyst reports. UBS Group lifted their target price on shares of Kraft Heinz from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Piper Sandler lifted their price objective on shares of Kraft Heinz from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Wells Fargo & Company reduced their target price on Kraft Heinz from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday. Evercore set a $24.00 price objective on Kraft Heinz in a report on Thursday, August 6th. Finally, Barclays upped their target price on Kraft Heinz from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $23.75.
Get Our Latest Report on Kraft Heinz
About Kraft Heinz
The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company that develops, manufactures and markets packaged foods and beverages for consumers, retailers and foodservice customers. Its portfolio includes condiments and sauces, cheese and dairy products, meals, meats, snacks, beverages and other grocery items.
The company’s brands include Heinz, Kraft, Oscar Mayer, Philadelphia, Velveeta, Lunchables, Maxwell House, Capri Sun, Jell-O, Ore-Ida, Classico, Grey Poupon and Planters.
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