Franklin Resources Inc. lowered its position in Kraft Heinz Co (NASDAQ:KHC) by 8.9% in the third quarter, HoldingsChannel.com reports. The firm owned 862,777 shares of the company’s stock after selling 84,062 shares during the quarter. Franklin Resources Inc.’s holdings in Kraft Heinz were worth $47,547,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Integrated Investment Consultants LLC lifted its position in Kraft Heinz by 133.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock valued at $106,000 after purchasing an additional 965 shares during the period. Stevens First Principles Investment Advisors acquired a new stake in Kraft Heinz in the second quarter valued at about $108,000. CSat Investment Advisory L.P. acquired a new stake in Kraft Heinz in the second quarter valued at about $120,000. Blume Capital Management Inc. lifted its position in shares of Kraft Heinz by 166.7% during the 3rd quarter. Blume Capital Management Inc. now owns 2,080 shares of the company’s stock valued at $115,000 after acquiring an additional 1,300 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its position in shares of Kraft Heinz by 64.7% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,278 shares of the company’s stock valued at $143,000 after acquiring an additional 895 shares during the period. Hedge funds and other institutional investors own 62.63% of the company’s stock.
KHC stock opened at $48.71 on Friday. Kraft Heinz Co has a 12-month low of $48.51 and a 12-month high of $80.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.00 and a quick ratio of 0.57. The company has a market cap of $60.39 billion, a PE ratio of 13.87, a P/E/G ratio of 2.21 and a beta of 0.45.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.03). Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same period last year, the business earned $0.83 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts forecast that Kraft Heinz Co will post 3.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 16th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.13%. Kraft Heinz’s dividend payout ratio (DPR) is 70.42%.
A number of equities research analysts have recently issued reports on KHC shares. BidaskClub downgraded shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Saturday, August 11th. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 27th. Morgan Stanley started coverage on shares of Kraft Heinz in a research report on Monday, September 17th. They set an “underweight” rating and a $52.00 price target for the company. Credit Suisse Group upgraded shares of Kraft Heinz to a “hold” rating and set a $52.00 price target for the company in a research report on Thursday, October 4th. Finally, ValuEngine upgraded shares of Kraft Heinz from a “strong sell” rating to a “sell” rating in a research report on Friday, October 19th. Six investment analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $66.89.
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About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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