Cambridge Investment Research Advisors Inc. increased its holdings in shares of Kraft Heinz Co (NASDAQ:KHC) by 18.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 122,559 shares of the company’s stock after acquiring an additional 18,660 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Kraft Heinz were worth $6,754,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of KHC. Integrated Investment Consultants LLC boosted its position in Kraft Heinz by 133.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock valued at $106,000 after buying an additional 965 shares in the last quarter. Stevens First Principles Investment Advisors acquired a new position in Kraft Heinz in the second quarter valued at about $108,000. Mainstay Capital Management LLC ADV boosted its position in Kraft Heinz by 5,429.3% in the second quarter. Mainstay Capital Management LLC ADV now owns 6,414 shares of the company’s stock valued at $108,000 after buying an additional 6,298 shares in the last quarter. Kiley Juergens Wealth Management LLC acquired a new position in Kraft Heinz in the second quarter valued at about $113,000. Finally, CSat Investment Advisory L.P. acquired a new position in Kraft Heinz in the second quarter valued at about $120,000. Institutional investors and hedge funds own 63.22% of the company’s stock.
A number of equities analysts have commented on the stock. BidaskClub upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Piper Jaffray Companies set a $62.00 price target on shares of Kraft Heinz and gave the company a “buy” rating in a research report on Friday, November 2nd. Morgan Stanley set a $49.00 price target on shares of Kraft Heinz and gave the company a “sell” rating in a research report on Wednesday. BMO Capital Markets reduced their price target on shares of Kraft Heinz from $67.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, November 5th. Finally, Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $67.09.
Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, November 1st. The company reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.03). Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.31 billion. During the same period in the prior year, the firm posted $0.83 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts anticipate that Kraft Heinz Co will post 3.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 16th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend is Thursday, November 15th. Kraft Heinz’s dividend payout ratio is presently 70.42%.
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Kraft Heinz Company Profile
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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