Invesco Ltd. cut its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 29.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,003,886 shares of the company's stock after selling 7,160,655 shares during the period. Invesco Ltd. owned about 1.41% of Kraft Heinz worth $522,189,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Kraft Heinz in the 4th quarter valued at approximately $118,000. Russell Investments Group Ltd. boosted its holdings in shares of Kraft Heinz by 115.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,020,501 shares of the company's stock valued at $31,339,000 after buying an additional 546,474 shares during the period. Wedbush Securities Inc. increased its position in shares of Kraft Heinz by 52.1% during the fourth quarter. Wedbush Securities Inc. now owns 28,719 shares of the company's stock worth $882,000 after acquiring an additional 9,835 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of Kraft Heinz during the fourth quarter worth $11,402,000. Finally, Landscape Capital Management L.L.C. lifted its position in Kraft Heinz by 458.7% in the 4th quarter. Landscape Capital Management L.L.C. now owns 64,106 shares of the company's stock valued at $1,969,000 after acquiring an additional 52,632 shares in the last quarter. 78.17% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
KHC has been the subject of a number of research reports. Barclays lowered their target price on Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating for the company in a report on Friday, February 14th. Morgan Stanley started coverage on Kraft Heinz in a research report on Monday, March 24th. They issued an "underweight" rating and a $29.00 target price on the stock. Mizuho downgraded Kraft Heinz from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $38.00 to $31.00 in a research report on Monday, February 10th. The Goldman Sachs Group cut their price objective on shares of Kraft Heinz from $32.00 to $28.00 and set a "sell" rating on the stock in a research report on Thursday, February 13th. Finally, TD Cowen decreased their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. According to MarketBeat, Kraft Heinz presently has a consensus rating of "Hold" and an average price target of $30.67.
View Our Latest Stock Analysis on Kraft Heinz
Kraft Heinz Stock Performance
KHC stock traded up $0.31 during midday trading on Monday, reaching $29.64. 1,908,217 shares of the company were exchanged, compared to its average volume of 9,020,071. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $38.96. The firm has a market capitalization of $35.37 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44. The business has a 50-day moving average price of $29.95 and a two-hundred day moving average price of $31.23. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Equities research analysts forecast that The Kraft Heinz Company will post 2.68 EPS for the current year.
Kraft Heinz Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.40%. Kraft Heinz's payout ratio is currently 70.80%.
Kraft Heinz Profile
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Free Report)
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.
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