B. Riley Wealth Management Inc. acquired a new stake in shares of Kraft Heinz Co (NASDAQ:KHC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,965 shares of the company’s stock, valued at approximately $384,000.
Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in shares of Kraft Heinz by 434.8% during the third quarter. Nordea Investment Management AB now owns 296,540 shares of the company’s stock valued at $16,341,000 after acquiring an additional 241,095 shares in the last quarter. M Holdings Securities Inc. increased its holdings in shares of Kraft Heinz by 488.5% during the third quarter. M Holdings Securities Inc. now owns 53,627 shares of the company’s stock valued at $2,955,000 after acquiring an additional 44,515 shares in the last quarter. Equitable Trust Co. increased its holdings in shares of Kraft Heinz by 39.0% during the third quarter. Equitable Trust Co. now owns 7,120 shares of the company’s stock valued at $392,000 after acquiring an additional 1,999 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Kraft Heinz by 54.1% during the third quarter. Koshinski Asset Management Inc. now owns 21,107 shares of the company’s stock valued at $1,163,000 after acquiring an additional 7,407 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Kraft Heinz by 10.7% during the third quarter. Captrust Financial Advisors now owns 12,619 shares of the company’s stock valued at $695,000 after acquiring an additional 1,215 shares in the last quarter. 62.62% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. ValuEngine upgraded Kraft Heinz from a “strong sell” rating to a “sell” rating in a report on Thursday, December 13th. Berenberg Bank set a $64.00 price objective on Kraft Heinz and gave the stock a “buy” rating in a report on Tuesday, November 20th. BidaskClub downgraded Kraft Heinz from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. Morgan Stanley set a $49.00 price objective on Kraft Heinz and gave the stock a “sell” rating in a report on Wednesday, November 7th. Finally, BMO Capital Markets reduced their price objective on Kraft Heinz from $67.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, November 5th. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $66.89.
Kraft Heinz stock opened at $44.85 on Friday. The stock has a market cap of $56.28 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.06 and a beta of 0.45. Kraft Heinz Co has a 52-week low of $44.42 and a 52-week high of $80.67. The company has a quick ratio of 0.57, a current ratio of 1.00 and a debt-to-equity ratio of 0.47.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.03). The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.31 billion. Kraft Heinz had a net margin of 39.56% and a return on equity of 6.62%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 earnings per share. On average, sell-side analysts expect that Kraft Heinz Co will post 3.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 16th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.57%. Kraft Heinz’s dividend payout ratio is currently 70.42%.
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Kraft Heinz Company Profile
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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