The Kraft Heinz Company (KHC) Shares Bought by Synovus Financial Corp

Synovus Financial Corp increased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,465 shares of the company’s stock after buying an additional 2,109 shares during the period. Synovus Financial Corp’s holdings in The Kraft Heinz Company were worth $6,394,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Verus Financial Partners Inc. increased its position in The Kraft Heinz Company by 0.4% in the third quarter. Verus Financial Partners Inc. now owns 2,366 shares of the company’s stock valued at $212,000 after buying an additional 10 shares during the last quarter. American Research & Management Co. increased its position in The Kraft Heinz Company by 0.8% in the third quarter. American Research & Management Co. now owns 1,931 shares of the company’s stock valued at $173,000 after buying an additional 16 shares during the last quarter. Armbruster Capital Management Inc. increased its position in The Kraft Heinz Company by 1.2% in the third quarter. Armbruster Capital Management Inc. now owns 1,628 shares of the company’s stock valued at $146,000 after buying an additional 19 shares during the last quarter. Putnam FL Investment Management Co. increased its position in The Kraft Heinz Company by 0.7% in the second quarter. Putnam FL Investment Management Co. now owns 4,240 shares of the company’s stock valued at $375,000 after buying an additional 30 shares during the last quarter. Finally, Redmond Asset Management LLC increased its position in The Kraft Heinz Company by 0.8% in the second quarter. Redmond Asset Management LLC now owns 4,192 shares of the company’s stock valued at $371,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 60.70% of the company’s stock.

Institutional Ownership by Quarter for The Kraft Heinz Company (NASDAQ:KHC)

Shares of The Kraft Heinz Company (NASDAQ:KHC) traded up 1.16% on Wednesday, hitting $86.91. 961,336 shares of the stock were exchanged. The Kraft Heinz Company has a 12 month low of $68.18 and a 12 month high of $90.54. The company has a 50-day moving average price of $84.61 and a 200 day moving average price of $86.93. The company has a market cap of $105.79 billion, a PE ratio of 38.25 and a beta of 0.42.

The Kraft Heinz Company (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.09. The Kraft Heinz Company had a net margin of 10.44% and a return on equity of 6.40%. The company earned $6.27 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the prior year, the company earned $0.44 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. Equities analysts forecast that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were paid a $0.60 dividend. The ex-dividend date was Wednesday, November 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.79%. The Kraft Heinz Company’s dividend payout ratio (DPR) is 105.26%.

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A number of equities analysts recently weighed in on the stock. Citigroup Inc. raised shares of The Kraft Heinz Company from a “sell” rating to a “neutral” rating in a research note on Wednesday. Vetr raised shares of The Kraft Heinz Company from a “sell” rating to a “hold” rating and set a $83.62 target price for the company in a research note on Tuesday. Sanford C. Bernstein reissued a “top pick” rating and set a $109.00 target price on shares of The Kraft Heinz Company in a research note on Friday, January 6th. RBC Capital Markets reissued an “outperform” rating and set a $100.00 target price (up previously from $99.00) on shares of The Kraft Heinz Company in a research note on Friday, December 23rd. Finally, Zacks Investment Research downgraded shares of The Kraft Heinz Company from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The Kraft Heinz Company presently has a consensus rating of “Buy” and an average price target of $98.59.

About The Kraft Heinz Company

The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.

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