Payden & Rygel cut its holdings in Kraft Heinz Co (NASDAQ:KHC) by 39.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 143,700 shares of the company’s stock after selling 91,900 shares during the quarter. Payden & Rygel’s holdings in Kraft Heinz were worth $11,144,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of KHC. Westside Investment Management Inc. lifted its stake in Kraft Heinz by 16.6% in the 2nd quarter. Westside Investment Management Inc. now owns 1,209 shares of the company’s stock valued at $100,000 after acquiring an additional 172 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in Kraft Heinz by 287.9% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,280 shares of the company’s stock valued at $110,000 after acquiring an additional 950 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in Kraft Heinz in the 2nd quarter valued at approximately $121,000. Blue Chip Partners Inc. lifted its stake in Kraft Heinz by 0.5% in the 2nd quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock valued at $127,000 after acquiring an additional 8 shares in the last quarter. Finally, GWM Advisors LLC bought a new stake in Kraft Heinz in the 2nd quarter valued at approximately $137,000. Institutional investors and hedge funds own 62.06% of the company’s stock.
Several equities research analysts have commented on the company. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, August 21st. Morgan Stanley cut their target price on Kraft Heinz from $92.00 to $88.00 and set an “overweight” rating on the stock in a research note on Friday, November 3rd. BidaskClub upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Citigroup cut their target price on Kraft Heinz from $90.00 to $82.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Finally, Susquehanna Bancshares cut their target price on Kraft Heinz from $83.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Kraft Heinz currently has a consensus rating of “Buy” and a consensus price target of $92.49.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.83. Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The company had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter in the prior year, the business posted $0.83 EPS. The business’s revenue was up .7% compared to the same quarter last year. research analysts forecast that Kraft Heinz Co will post 3.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 17th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, November 16th. Kraft Heinz’s dividend payout ratio is currently 77.88%.
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Kraft Heinz Company Profile
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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