Retirement Planning Co of New England Inc. purchased a new position in The Kraft Heinz Company (NASDAQ:KHC – Get Rating) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 5,643 shares of the company’s stock, valued at approximately $202,000.
Other large investors have also modified their holdings of the company. Cetera Advisors LLC boosted its stake in Kraft Heinz by 70.2% in the 3rd quarter. Cetera Advisors LLC now owns 52,692 shares of the company’s stock worth $1,940,000 after buying an additional 21,729 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Kraft Heinz by 9.5% in the 4th quarter. Wealthfront Advisers LLC now owns 140,961 shares of the company’s stock valued at $5,061,000 after purchasing an additional 12,184 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Kraft Heinz by 133.4% in the 3rd quarter. Wellington Management Group LLP now owns 57,250 shares of the company’s stock valued at $2,108,000 after purchasing an additional 32,717 shares in the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of Kraft Heinz by 5.6% in the 3rd quarter. Cetera Advisor Networks LLC now owns 104,067 shares of the company’s stock valued at $3,832,000 after purchasing an additional 5,492 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in shares of Kraft Heinz by 3.0% in the 3rd quarter. Guggenheim Capital LLC now owns 685,399 shares of the company’s stock valued at $25,236,000 after purchasing an additional 19,730 shares in the last quarter. 61.51% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on KHC shares. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “hold” rating and set a $40.00 price objective on the stock in a research note on Monday, January 17th. Morgan Stanley lifted their price objective on Kraft Heinz from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 11th. UBS Group began coverage on Kraft Heinz in a report on Wednesday, March 30th. They set a “neutral” rating and a $40.00 target price on the stock. TheStreet upgraded Kraft Heinz from a “c+” rating to a “b” rating in a report on Monday, March 28th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Kraft Heinz from $46.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, February 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.56.
Kraft Heinz (NASDAQ:KHC – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.07. Kraft Heinz had a return on equity of 6.95% and a net margin of 4.77%. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the business earned $0.72 EPS. Kraft Heinz’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 2.66 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, May 27th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, May 26th. This represents a $1.60 annualized dividend and a dividend yield of 3.75%. Kraft Heinz’s payout ratio is 161.62%.
Kraft Heinz Profile (Get Rating)
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.
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