OPSEU Pension Plan Trust Fund lowered its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.0% in the third quarter, Holdings Channel reports. The institutional investor owned 44,014 shares of the company’s stock after selling 440 shares during the period. OPSEU Pension Plan Trust Fund’s holdings in The Kraft Heinz were worth $1,309,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ancora Advisors LLC acquired a new stake in shares of The Kraft Heinz during the second quarter worth $1,014,000. State of Michigan Retirement System lifted its holdings in shares of The Kraft Heinz by 11.5% during the second quarter. State of Michigan Retirement System now owns 159,119 shares of the company’s stock worth $5,074,000 after buying an additional 16,373 shares in the last quarter. Dupont Capital Management Corp lifted its holdings in shares of The Kraft Heinz by 33.5% during the third quarter. Dupont Capital Management Corp now owns 45,095 shares of the company’s stock worth $1,351,000 after buying an additional 11,307 shares in the last quarter. Glenview Trust Co lifted its holdings in shares of The Kraft Heinz by 3.9% during the second quarter. Glenview Trust Co now owns 13,629 shares of the company’s stock worth $435,000 after buying an additional 508 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of The Kraft Heinz by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 5,739,128 shares of the company’s stock worth $183,021,000 after buying an additional 246,297 shares in the last quarter. 58.02% of the stock is owned by institutional investors.
In other news, major shareholder Global Food Holdings Lp 3G sold 29,169,550 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $30.31, for a total transaction of $884,129,060.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Damme Alexandre Van purchased 13,849,315 shares of The Kraft Heinz stock in a transaction dated Monday, November 9th. The shares were purchased at an average price of $30.38 per share, for a total transaction of $420,742,189.70. The disclosure for this purchase can be found here. Insiders own 0.53% of the company’s stock.
A number of research analysts recently commented on the company. Wells Fargo & Company dropped their price target on The Kraft Heinz from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, September 16th. Bank of America reaffirmed a “buy” rating on shares of The Kraft Heinz in a research note on Thursday, July 30th. Piper Sandler raised The Kraft Heinz from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $39.00 in a research note on Tuesday, July 28th. DZ Bank raised The Kraft Heinz from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Thursday, September 10th. Finally, BidaskClub raised The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, November 2nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The Kraft Heinz has an average rating of “Hold” and an average target price of $34.50.
The Kraft Heinz stock traded down $0.65 during midday trading on Tuesday, reaching $31.50. The company’s stock had a trading volume of 83,084 shares, compared to its average volume of 7,433,685. The Kraft Heinz Company has a 52 week low of $19.99 and a 52 week high of $36.37. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $31.10 and a 200-day moving average price of $32.07. The stock has a market cap of $39.31 billion, a PE ratio of -80.37, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99.
The Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.08. The company had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.32 billion. The Kraft Heinz had a positive return on equity of 6.80% and a negative net margin of 1.92%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 earnings per share. As a group, research analysts predict that The Kraft Heinz Company will post 2.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 27th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Wednesday, November 25th. The Kraft Heinz’s dividend payout ratio (DPR) is currently 56.14%.
About The Kraft Heinz
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy, meals, meats and seafood, frozen and chilled foods, packaged drinking pouches, appetizers, refreshment beverages, coffee, nuts and salted snacks, infant and nutrition products, and other grocery products, as well as desserts, dressings, toppings, and baking.
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