Redwood Investments LLC increased its position in shares of Kraft Heinz Co. (NASDAQ:KHC) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 173,039 shares of the company’s stock after buying an additional 6,685 shares during the period. Redwood Investments LLC’s holdings in Kraft Heinz were worth $15,489,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in KHC. Capital World Investors increased its stake in shares of Kraft Heinz 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. FMR LLC raised its stake in Kraft Heinz 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 last quarter. Vanguard Group Inc. raised its stake in Kraft Heinz 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 last quarter. WestEnd Advisors LLC acquired a new stake in Kraft Heinz during the second quarter worth about $97,332,000. Finally, Columbus Circle Investors acquired a new stake in Kraft Heinz during the second quarter worth about $78,567,000. Institutional investors own 61.69% of the company’s stock.
Kraft Heinz Co. (NASDAQ:KHC) traded up 0.62% during mid-day trading on Friday, hitting $82.95. 1,230,342 shares of the stock traded hands. The firm’s 50-day moving average price is $86.12 and its 200-day moving average price is $86.85. Kraft Heinz Co. has a 52 week low of $68.18 and a 52 week high of $90.54. The firm has a market cap of $100.97 billion, a P/E ratio of 36.51 and a beta of 0.48.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.09. Kraft Heinz had a return on equity of 6.40% and a net margin of 10.44%. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the company earned $0.44 EPS. The company’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts forecast that Kraft Heinz Co. will post $3.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, November 30th. This represents a $2.40 dividend on an annualized basis and a yield of 2.89%. Kraft Heinz’s dividend payout ratio (DPR) is presently 105.26%.
A number of analysts have recently issued reports on the company. RBC Capital Markets restated an “outperform” rating and issued a $96.00 target price on shares of Kraft Heinz in a report on Tuesday, November 1st. Credit Suisse Group AG restated a “buy” rating on shares of Kraft Heinz in a report on Friday, November 4th. Deutsche Bank AG restated a “buy” rating on shares of Kraft Heinz in a report on Monday, October 31st. Stifel Nicolaus increased their target price on Kraft Heinz from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Susquehanna increased their target price on Kraft Heinz from $114.00 to $118.00 and gave the company a “positive” rating in a report on Monday, October 31st. Two analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $98.96.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total transaction of $244,468,695.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 26.92% of the company’s stock.
About Kraft Heinz
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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