Other research analysts have also recently issued reports about the stock. Jefferies Financial Group reaffirmed a buy rating and issued a $75.00 target price on shares of Kraft Heinz in a report on Tuesday, August 7th. Bank of America set a $85.00 target price on shares of Kraft Heinz and gave the company a buy rating in a report on Monday, August 6th. Piper Jaffray Companies set a $62.00 target price on shares of Kraft Heinz and gave the company a buy rating in a report on Friday. UBS Group set a $65.00 target price on shares of Kraft Heinz and gave the company a buy rating in a report on Friday. Finally, Zacks Investment Research raised shares of Kraft Heinz from a sell rating to a hold rating in a report on Tuesday, October 9th. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Kraft Heinz presently has an average rating of Hold and an average target price of $67.74.
Shares of Kraft Heinz stock opened at $50.73 on Friday. Kraft Heinz has a 12-month low of $50.41 and a 12-month high of $82.48. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.05 and a quick ratio of 0.70. The stock has a market capitalization of $61.85 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 1.80 and a beta of 0.45.
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 is Thursday, November 15th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.93%. Kraft Heinz’s dividend payout ratio (DPR) is 70.42%.
In other news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total transaction of $1,234,724,292.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 26.81% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors grew its stake in Kraft Heinz by 8.3% in the 2nd quarter. Captrust Financial Advisors now owns 11,404 shares of the company’s stock worth $716,000 after acquiring an additional 870 shares during the period. Chicago Partners Investment Group LLC grew its stake in Kraft Heinz by 64.7% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,278 shares of the company’s stock worth $143,000 after acquiring an additional 895 shares during the period. World Asset Management Inc grew its stake in Kraft Heinz by 2.5% in the 2nd quarter. World Asset Management Inc now owns 36,493 shares of the company’s stock worth $2,292,000 after acquiring an additional 903 shares during the period. Redmond Asset Management LLC grew its stake in Kraft Heinz by 20.1% in the 2nd quarter. Redmond Asset Management LLC now owns 5,454 shares of the company’s stock worth $343,000 after acquiring an additional 912 shares during the period. Finally, Cobiz Wealth LLC grew its stake in Kraft Heinz by 1.8% in the 3rd quarter. Cobiz Wealth LLC now owns 50,987 shares of the company’s stock worth $2,810,000 after acquiring an additional 920 shares during the period. 63.02% of the stock is owned by institutional investors and hedge funds.
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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