Csenge Advisory Group increased its stake in Kraft Heinz Company (NASDAQ:KHC – Free Report) by 76.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,980 shares of the company’s stock after purchasing an additional 28,637 shares during the quarter. Csenge Advisory Group’s holdings in Kraft Heinz were worth $1,499,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC bought a new stake in Kraft Heinz in the first quarter valued at approximately $27,000. Hara Capital LLC bought a new position in shares of Kraft Heinz in the second quarter worth approximately $29,000. Reyes Financial Architecture Inc. grew its holdings in shares of Kraft Heinz by 5,820.8% in the third 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 last quarter. Fiduciary Financial Advisors bought a new position in shares of Kraft Heinz in the second quarter worth approximately $33,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Kraft Heinz in the second quarter worth $34,000. 78.17% of the stock is currently owned by institutional investors.
Kraft Heinz Stock Performance
Shares of KHC stock opened at $24.25 on Thursday. The firm has a market capitalization of $28.70 billion, a price-to-earnings ratio of -8.48, a PEG ratio of 2.99 and a beta of 0.12. The stock has a fifty day moving average of $23.92 and a 200 day moving average of $23.94. Kraft Heinz Company has a 52 week low of $21.03 and a 52 week high of $28.09. The company has a quick ratio of 0.68, a current ratio of 1.06 and a debt-to-equity ratio of 0.49.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. Kraft Heinz had a negative net margin of 13.64% and a positive return on equity of 7.10%. The business had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the previous year, the firm earned $0.61 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts expect that Kraft Heinz Company will post 2.06 earnings per share for the current year.
Kraft Heinz Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Friday, December 4th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Friday, December 4th. Kraft Heinz’s dividend payout ratio is presently -54.79%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Kraft Heinz from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, November 5th. Wall Street Zen downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Royal Bank Of Canada reiterated an “outperform” rating and set a $32.00 target price on shares of Kraft Heinz in a report on Thursday, September 24th. UBS Group raised their target price on Kraft Heinz from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. Finally, Evercore set a $24.00 price target on Kraft Heinz in a report on Thursday, August 6th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $23.80.
Read Our Latest Report on Kraft Heinz
About Kraft Heinz
The Kraft Heinz Company (NASDAQ: KHC) manufactures and markets food and beverage products for consumers, retailers and food-service businesses. Its portfolio includes condiments and sauces, cheese and dairy products, packaged meals, meats, snacks and beverages, sold under brands such as Heinz, Kraft, Oscar Mayer and Philadelphia. The company was formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. It serves customers in the United States and other markets around the world, with its business spanning North America and international regions.
Featured Articles
- Five stocks we like better than Kraft Heinz
- Keeping AI Cool: AAON Rides the AI Heatwave to Record Growth
- AST SpaceMobile Has a New Rocket Plan, But Its Cash-Burn Problem Isn’t Going Away
- Powering Up the Moon: Redwire’s $40 Million NASA Award
- Can Constellation Energy’s Contracts Power a Stock Rebound?
Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.
