Kraft Heinz Co. (KHC) To Go Ex-Dividend on November 30th
Kraft Heinz Co. (NASDAQ:KHC) declared a quarterly dividend on Thursday, November 3rd. Investors of record on Friday, December 2nd will be given a dividend of 0.60 per share on Friday, December 16th. This represents a $2.40 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Wednesday, November 30th.
Kraft Heinz (NASDAQ:KHC) opened at 83.22 on Tuesday. Kraft Heinz has a 52-week low of $68.18 and a 52-week high of $90.54. The company’s 50-day moving average price is $85.84 and its 200 day moving average price is $86.83. The stock has a market capitalization of $101.30 billion, a P/E ratio of 36.63 and a beta of 0.48.
Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, November 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. Kraft Heinz had a return on equity of 6.40% and a net margin of 10.44%. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the firm earned $0.44 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts predict that Kraft Heinz will post $3.24 earnings per share for the current fiscal year.
In related news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of Kraft Heinz stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $87.05, for a total value of $244,468,695.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 26.92% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Harwood Advisory Group LLC bought a new stake in Kraft Heinz during the second quarter valued at $1,855,000. Hamilton Point Investment Advisors LLC increased its stake in Kraft Heinz by 4.6% in the second quarter. Hamilton Point Investment Advisors LLC now owns 12,779 shares of the company’s stock valued at $1,131,000 after buying an additional 560 shares during the period. WASHINGTON TRUST Co increased its stake in Kraft Heinz by 1.3% in the second quarter. WASHINGTON TRUST Co now owns 85,140 shares of the company’s stock valued at $7,534,000 after buying an additional 1,133 shares during the period. AXA increased its stake in Kraft Heinz by 80.6% in the second quarter. AXA now owns 170,800 shares of the company’s stock valued at $15,113,000 after buying an additional 76,213 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Kraft Heinz by 3.7% in the second quarter. Alliancebernstein L.P. now owns 1,051,748 shares of the company’s stock valued at $93,059,000 after buying an additional 37,394 shares during the period. Hedge funds and other institutional investors own 60.74% of the company’s stock.
Several equities research analysts have weighed in on the company. Vetr downgraded Kraft Heinz from a “strong-buy” rating to a “buy” rating and set a $88.44 price target on the stock. in a research report on Monday, November 21st. Zacks Investment Research downgraded Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. RBC Capital Markets reaffirmed an “outperform” rating and set a $99.00 price target (up from $96.00) on shares of Kraft Heinz in a research report on Monday, November 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $96.00 price target (down from $99.00) on shares of Kraft Heinz in a research report on Monday, November 7th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Kraft Heinz in a research report on Friday, November 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $98.96.
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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