UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,956,651 shares of the company's stock after selling 44,780 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.58% of Kraft Heinz worth $244,248,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of KHC. LSV Asset Management raised its holdings in Kraft Heinz by 2.1% in the second quarter. LSV Asset Management now owns 9,107,688 shares of the company's stock worth $293,450,000 after buying an additional 189,000 shares during the last quarter. Legal & General Group Plc raised its holdings in Kraft Heinz by 9.7% in the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company's stock worth $292,061,000 after buying an additional 799,581 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company's stock worth $178,379,000 after buying an additional 1,778,263 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 worth $186,350,000 after buying an additional 545,504 shares during the last quarter. Finally, AQR Capital Management LLC raised 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 worth $130,912,000 after buying an additional 505,180 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.
Kraft Heinz Price Performance
Shares of NASDAQ:KHC traded up $0.04 during midday trading on Friday, reaching $31.97. 5,883,760 shares of the company were exchanged, compared to its average volume of 8,002,303. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The business's fifty day moving average is $33.77 and its two-hundred day moving average is $34.13. The Kraft Heinz Company has a one year low of $30.40 and a one year high of $38.96. The stock has a market cap of $38.66 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 3.65 and a beta of 0.49.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. Kraft Heinz's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current year.
Kraft Heinz Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz's payout ratio is 144.14%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on KHC shares. Barclays decreased their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, November 1st. Stifel Nicolaus cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and decreased their price objective for the company from $40.00 to $38.00 in a report on Friday, October 25th. Citigroup decreased their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and decreased their price objective for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Finally, Mizuho decreased their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $36.55.
Check Out Our Latest Research Report on KHC
Insider Activity at Kraft Heinz
In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares of the company's stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is owned by insiders.
About Kraft Heinz
(
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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