Mirae Asset Global Investments Co. Ltd. Buys 240,438 Shares of Kraft Heinz Company $KHC

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Kraft Heinz Company (NASDAQ:KHC – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 240,438 shares of the company’s stock, valued at approximately $5,463,000.

A number of other hedge funds also recently modified their holdings of KHC. Cassaday & Co Wealth Management LLC purchased a new position in shares of Kraft Heinz during the first quarter valued at $27,000. Hara Capital LLC acquired a new position in Kraft Heinz during the second quarter valued at $29,000. Fiduciary Financial Advisors acquired a new position in Kraft Heinz during the second quarter valued at $33,000. Reyes Financial Architecture Inc. raised its position in Kraft Heinz by 5,820.8% during the third quarter. Reyes Financial Architecture Inc. now owns 1,421 shares of the company’s stock valued at $32,000 after buying an additional 1,397 shares during the period. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in Kraft Heinz in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

More Kraft Heinz News

Here are the key news stories impacting Kraft Heinz this week:

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore set a $24.00 price objective on Kraft Heinz in a research report on Thursday, August 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $32.00 target price on shares of Kraft Heinz in a report on Thursday, September 24th. TD Cowen reissued a “hold” rating and issued a $22.00 price target on shares of Kraft Heinz in a research report on Tuesday, September 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Kraft Heinz from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 20th. Finally, UBS Group boosted their price objective on shares of Kraft Heinz from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $23.80.

Read Our Latest Stock Report on Kraft Heinz

Kraft Heinz Price Performance

KHC opened at $25.36 on Friday. The stock has a fifty day moving average price of $24.02 and a 200 day moving average price of $23.91. The company has a current ratio of 1.06, a quick ratio of 0.68 and a debt-to-equity ratio of 0.49. Kraft Heinz Company has a 1 year low of $21.03 and a 1 year high of $28.09. The stock has a market cap of $30.07 billion, a price-to-earnings ratio of -8.87, a PEG ratio of 2.99 and a beta of 0.12.

Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.11. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same period in the prior year, the firm posted $0.61 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. Analysts forecast that Kraft Heinz Company will post 2.06 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Friday, December 4th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Friday, December 4th. Kraft Heinz’s payout ratio is currently -55.94%.

Kraft Heinz Company Profile

(Free Report)

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company that develops, manufactures and markets branded products for consumers, retailers and foodservice customers. Its portfolio includes condiments and sauces, cheese and dairy products, meals, meats, snacks, beverages and desserts.

The company’s brands include Kraft, Heinz, Oscar Mayer, Philadelphia, Velveeta, Jell-O, Maxwell House, Lunchables, Capri Sun, Planters and Classico, among others. Products are sold through grocery stores, mass merchants, club stores, convenience retailers, e-commerce channels and foodservice distributors.

Kraft Heinz was created in 2015 through the merger of Kraft Foods Group and H.J.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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