Geode Capital Management LLC grew its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,745,734 shares of the company's stock after acquiring an additional 595,406 shares during the quarter. Geode Capital Management LLC owned 1.63% of Kraft Heinz worth $604,644,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Kraft Heinz by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock worth $2,779,524,000 after acquiring an additional 14,996,486 shares during the last quarter. State Street Corp lifted its stake in shares of Kraft Heinz by 16.7% in the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company's stock valued at $1,558,898,000 after purchasing an additional 6,366,732 shares during the period. Norges Bank bought a new stake in shares of Kraft Heinz during the fourth quarter valued at approximately $324,857,000. Nordea Investment Management AB grew its stake in Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company's stock worth $269,906,000 after purchasing an additional 1,238,200 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Kraft Heinz by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,601,292 shares of the company's stock valued at $172,016,000 after buying an additional 293,694 shares during the period. 78.17% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on KHC shares. StockNews.com raised shares of Kraft Heinz from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Stifel Nicolaus cut their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group lowered their target price on shares of Kraft Heinz from $32.00 to $28.00 and set a "sell" rating for the company in a report on Thursday, February 13th. Evercore ISI restated an "in-line" rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their price objective on Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Four research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat, Kraft Heinz currently has an average rating of "Hold" and an average price target of $30.67.
View Our Latest Analysis on Kraft Heinz
Kraft Heinz Stock Performance
NASDAQ KHC traded up $1.41 during trading hours on Wednesday, hitting $29.10. The company's stock had a trading volume of 18,615,449 shares, compared to its average volume of 8,996,416. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market cap of $34.73 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44. The company's 50 day simple moving average is $29.95 and its two-hundred day simple moving average is $31.33. The Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $38.96.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. As a group, sell-side analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.
Kraft Heinz Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders 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 dividend yield of 5.50%. Kraft Heinz's payout ratio is 70.80%.
Kraft Heinz Company Profile
(
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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