World Asset Management Inc boosted its stake in The Kraft Heinz Company (NASDAQ:KHC) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,833 shares of the company’s stock after buying an additional 1,094 shares during the period. World Asset Management Inc’s holdings in The Kraft Heinz Company were worth $5,356,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of The Kraft Heinz Company by 3.8% in the second quarter. Vanguard Group Inc. now owns 38,286,881 shares of the company’s stock worth $3,387,624,000 after buying an additional 1,412,258 shares during the period. Capital World Investors raised its stake in shares of The Kraft Heinz Company by 15.7% in the second quarter. Capital World Investors now owns 35,434,850 shares of the company’s stock worth $3,135,276,000 after buying an additional 4,805,207 shares during the period. Bank of New York Mellon Corp raised its stake in shares of The Kraft Heinz Company by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 6,727,962 shares of the company’s stock worth $595,290,000 after buying an additional 24,782 shares during the period. FMR LLC raised its stake in shares of The Kraft Heinz Company by 38.6% in the second quarter. FMR LLC now owns 5,321,337 shares of the company’s stock worth $470,832,000 after buying an additional 1,483,070 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in shares of The Kraft Heinz Company by 0.4% in the second quarter. TIAA CREF Investment Management LLC now owns 4,068,838 shares of the company’s stock worth $360,011,000 after buying an additional 17,577 shares during the period. 60.70% of the stock is owned by institutional investors.
Shares of The Kraft Heinz Company (NASDAQ:KHC) traded up 1.09% during trading on Wednesday, hitting $86.85. The stock had a trading volume of 999,964 shares. The stock has a market cap of $105.72 billion, a price-to-earnings ratio of 38.23 and a beta of 0.42. The Kraft Heinz Company has a 12 month low of $68.18 and a 12 month high of $90.54. The company’s 50 day moving average price is $84.61 and its 200 day moving average price is $86.93.
The Kraft Heinz Company (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The Kraft Heinz Company had a return on equity of 6.40% and a net margin of 10.44%. The firm earned $6.27 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts expect that The Kraft Heinz Company will post $3.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.79%. The ex-dividend date was Wednesday, November 30th. The Kraft Heinz Company’s payout ratio is currently 105.26%.
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A number of research analysts recently weighed in on KHC shares. Vetr lowered shares of The Kraft Heinz Company from a “strong-buy” rating to a “buy” rating and set a $98.22 target price for the company. in a report on Monday, September 19th. Zacks Investment Research downgraded The Kraft Heinz Company from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. J P Morgan Chase & Co restated a “focus list” rating on shares of The Kraft Heinz Company in a research report on Tuesday, October 4th. Argus raised their price target on The Kraft Heinz Company from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, September 28th. Finally, Sanford C. Bernstein restated a “top pick” rating and issued a $109.00 price target on shares of The Kraft Heinz Company in a research report on Friday, January 6th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average 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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