7,017 Shares in Kraft Heinz Co (KHC) Purchased by Yellowstone Partners LLC
Yellowstone Partners LLC purchased a new stake in Kraft Heinz Co (NASDAQ:KHC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,017 shares of the company’s stock, valued at approximately $544,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. grew its holdings in Kraft Heinz by 2,314.8% in the 1st quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock valued at $2,956,129,000 after buying an additional 31,204,852 shares in the last quarter. Morgan Stanley grew its holdings in Kraft Heinz by 55.6% in the 1st quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock valued at $759,605,000 after buying an additional 2,988,664 shares in the last quarter. FMR LLC grew its holdings in Kraft Heinz by 30.0% in the 2nd quarter. FMR LLC now owns 11,516,822 shares of the company’s stock valued at $986,301,000 after buying an additional 2,659,846 shares in the last quarter. Vanguard Group Inc. grew its holdings in Kraft Heinz by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock valued at $3,827,601,000 after buying an additional 1,585,231 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Kraft Heinz in the 2nd quarter valued at $102,151,000. Institutional investors and hedge funds own 62.02% of the company’s stock.
Several research firms have recently issued reports on KHC. Morgan Stanley reduced their target price on Kraft Heinz from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday, October 13th. Stifel Nicolaus reissued a “buy” rating and set a $95.00 target price on shares of Kraft Heinz in a report on Thursday, September 21st. Credit Suisse Group set a $100.00 target price on Kraft Heinz and gave the stock a “buy” rating in a report on Sunday, September 10th. BMO Capital Markets reissued a “hold” rating and set a $96.00 target price on shares of Kraft Heinz in a report on Wednesday, September 6th. Finally, Susquehanna Bancshares reduced their target price on Kraft Heinz from $83.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $92.49.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.83 earnings per share for the quarter, meeting the consensus estimate of $0.83. The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.33 billion. Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. Kraft Heinz’s revenue was up .7% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. research analysts anticipate that Kraft Heinz Co will post 3.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Thursday, November 16th. Kraft Heinz’s dividend payout ratio (DPR) is presently 77.88%.
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About Kraft Heinz
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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