Kraft Heinz Co. (KHC) Position Reduced by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. lowered its position in shares of Kraft Heinz Co. (NASDAQ:KHC) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 506,589 shares of the company’s stock after selling 11,770 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Kraft Heinz were worth $45,346,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of KHC. Capital World Investors raised its position in shares of Kraft Heinz by 15.7% in the second quarter. Capital World Investors now owns 35,434,850 shares of the company’s stock valued at $3,135,276,000 after buying an additional 4,805,207 shares during the period. FMR LLC raised its position in shares of Kraft Heinz by 38.6% in the second quarter. FMR LLC now owns 5,321,337 shares of the company’s stock valued at $470,832,000 after buying an additional 1,483,070 shares during the period. Vanguard Group Inc. raised its position in shares of Kraft Heinz by 3.8% in the second quarter. Vanguard Group Inc. now owns 38,286,881 shares of the company’s stock valued at $3,387,624,000 after buying an additional 1,412,258 shares during the period. WestEnd Advisors LLC bought a new position in shares of Kraft Heinz during the second quarter valued at approximately $97,332,000. Finally, Columbus Circle Investors bought a new position in shares of Kraft Heinz during the second quarter valued at approximately $78,567,000. Institutional investors own 61.58% of the company’s stock.
Shares of Kraft Heinz Co. (NASDAQ:KHC) traded down 0.37% during trading on Friday, hitting $82.53. 2,715,717 shares of the stock traded hands. Kraft Heinz Co. has a 52-week low of $68.18 and a 52-week high of $90.54. The firm has a market cap of $100461.29 billion, a price-to-earnings ratio of 22.80 and a beta of 0.48. The stock has a 50 day moving average of $86.58 and a 200 day moving average of $86.77.
Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, November 3rd. The company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.09. The business earned $6.27 billion during the quarter, compared to the consensus estimate of $4.70 billion. Kraft Heinz had a net margin of 10.44% and a return on equity of 6.40%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. Analysts expect that Kraft Heinz Co. will post $3.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.40 dividend on an annualized basis and a yield of 2.91%. Kraft Heinz’s dividend payout ratio is presently 105.26%.
A number of analysts have recently weighed in on the stock. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $100.00 target price on shares of Kraft Heinz in a research report on Saturday, August 13th. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Monday, August 8th. Susquehanna reaffirmed a “buy” rating on shares of Kraft Heinz in a research report on Monday, August 22nd. Stifel Nicolaus upped their target price on shares of Kraft Heinz from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Morgan Stanley set a $97.00 target price on shares of Kraft Heinz and gave the stock a “buy” rating in a research report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $99.71.
In other news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total transaction of $244,468,695.55. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 26.92% of the company’s stock.
Kraft Heinz Company Profile
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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