Kraft Heinz Co. (NASDAQ:KHC) major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total value of $244,468,695.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Kraft Heinz Co. (NASDAQ:KHC) opened at 88.53 on Tuesday. The firm’s 50 day moving average price is $88.87 and its 200 day moving average price is $84.47. Kraft Heinz Co. has a 52-week low of $68.18 and a 52-week high of $90.54. The firm has a market cap of $107.80 billion, a price-to-earnings ratio of 64.90 and a beta of 0.47.
Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.14. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The business earned $6.79 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was up 159.7% on a year-over-year basis. Equities research analysts anticipate that Kraft Heinz Co. will post $3.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be given a $0.60 dividend. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Wednesday, August 24th. Kraft Heinz’s dividend payout ratio (DPR) is currently 181.82%.
KHC has been the subject of several analyst reports. Vetr lowered Kraft Heinz from a “strong-buy” rating to a “buy” rating and set a $98.22 target price for the company. in a research report on Monday, September 19th. Susquehanna decreased their target price on Kraft Heinz from $118.00 to $114.00 and set a “positive” rating for the company in a research report on Friday, August 26th. Goldman Sachs Group Inc. restated a “conviction-buy” rating and set a $98.00 target price (up from $93.00) on shares of Kraft Heinz in a research report on Friday, July 15th. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Finally, Credit Suisse Group AG reiterated an “outperform” rating and set a $100.00 price objective (up previously from $98.00) on shares of Kraft Heinz in a report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating and fourteen have issued a buy rating to the company. Kraft Heinz has a consensus rating of “Buy” and a consensus price target of $98.79.
A number of hedge funds have recently added to or reduced their stakes in KHC. Vanguard Group Inc. boosted its position in shares of Kraft Heinz by 3.8% in the second quarter. Vanguard Group Inc. now owns 38,286,881 shares of the company’s stock valued at $3,387,624,000 after buying an additional 1,412,258 shares during the period. Capital World Investors boosted its position in shares of Kraft Heinz by 15.7% in the second quarter. Capital World Investors now owns 35,434,850 shares of the company’s stock valued at $3,135,276,000 after buying an additional 4,805,207 shares during the period. State Street Corp boosted its position in shares of Kraft Heinz by 3.4% in the first quarter. State Street Corp now owns 23,843,318 shares of the company’s stock valued at $1,873,118,000 after buying an additional 775,834 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Kraft Heinz by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 6,727,962 shares of the company’s stock valued at $595,290,000 after buying an additional 24,782 shares during the period. Finally, BlackRock Fund Advisors boosted its position in shares of Kraft Heinz by 0.5% in the first quarter. BlackRock Fund Advisors now owns 6,664,263 shares of the company’s stock valued at $523,545,000 after buying an additional 33,087 shares during the period. 61.30% of the stock is owned by institutional investors and hedge funds.
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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