Fmr LLC Has $72.07 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

FMR LLC decreased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,052,698 shares of the company's stock after selling 204,528 shares during the period. FMR LLC owned 0.17% of Kraft Heinz worth $72,070,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of KHC. LSV Asset Management grew its position in shares of Kraft Heinz by 2.1% in the second quarter. LSV Asset Management now owns 9,107,688 shares of the company's stock valued at $293,450,000 after purchasing an additional 189,000 shares during the period. Legal & General Group Plc grew its position in shares of Kraft Heinz by 9.7% in the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company's stock valued at $292,061,000 after purchasing an additional 799,581 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company's stock valued at $178,379,000 after purchasing an additional 1,778,263 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Kraft Heinz by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company's stock valued at $186,350,000 after purchasing an additional 545,504 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Kraft Heinz by 14.2% in the second quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company's stock valued at $130,912,000 after acquiring an additional 505,180 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Insiders Place Their Bets

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

KHC has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a "buy" rating to a "hold" rating and reduced their target price for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Citigroup reduced their price objective on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus cut Kraft Heinz from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $40.00 to $38.00 in a research note on Friday, October 25th. Mizuho reduced their price objective on Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group reduced their price objective on Kraft Heinz from $34.00 to $32.00 and set a "sell" rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $36.55.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC traded down $0.10 during trading on Friday, hitting $30.81. 11,870,805 shares of the company traded hands, compared to its average volume of 10,482,401. The stock has a market capitalization of $37.25 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 3.54 and a beta of 0.48. The business's fifty day moving average is $33.49 and its 200-day moving average is $33.99. The Kraft Heinz Company has a one year low of $30.40 and a one year high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same period in the prior year, the company posted $0.72 EPS. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 5.19%. Kraft Heinz's dividend payout ratio (DPR) is 144.14%.

Kraft Heinz Company Profile

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.