ProShare Advisors LLC Has $37.96 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)


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ProShare Advisors LLC boosted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 18.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,095,054 shares of the company’s stock after purchasing an additional 171,106 shares during the period. ProShare Advisors LLC’s holdings in The Kraft Heinz were worth $37,955,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. boosted its stake in shares of The Kraft Heinz by 22.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 654,151 shares of the company’s stock valued at $21,358,000 after purchasing an additional 121,281 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in shares of The Kraft Heinz by 81.1% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 55,952 shares of the company’s stock valued at $1,676,000 after purchasing an additional 25,060 shares in the last quarter. Xponance Inc. boosted its stake in shares of The Kraft Heinz by 300.4% in the 3rd quarter. Xponance Inc. now owns 101,521 shares of the company’s stock valued at $3,041,000 after purchasing an additional 76,164 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of The Kraft Heinz by 22.1% in the 3rd quarter. State of Michigan Retirement System now owns 194,319 shares of the company’s stock valued at $5,820,000 after purchasing an additional 35,200 shares in the last quarter. Finally, Ethic Inc. acquired a new stake in shares of The Kraft Heinz in the 3rd quarter valued at approximately $292,000. Hedge funds and other institutional investors own 58.93% of the company’s stock.

KHC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of The Kraft Heinz from an “overweight” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research note on Friday. They noted that the move was a valuation call. Morgan Stanley lifted their target price on shares of The Kraft Heinz from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Friday, February 12th. Guggenheim upgraded shares of The Kraft Heinz from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $35.00 in a research report on Friday, October 30th. Stifel Nicolaus lifted their target price on shares of The Kraft Heinz from $33.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, February 12th. Finally, Jefferies Financial Group lifted their target price on shares of The Kraft Heinz from $32.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, January 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $36.71.

The Kraft Heinz stock opened at $37.23 on Tuesday. The firm has a 50 day moving average price of $33.93 and a two-hundred day moving average price of $33.02. The firm has a market cap of $45.54 billion, a price-to-earnings ratio of -93.07, a PEG ratio of 2.51 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.96 and a current ratio of 1.31. The Kraft Heinz Company has a 52-week low of $19.99 and a 52-week high of $39.22.

The Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, February 10th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. The company had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.88 billion. The Kraft Heinz had a negative net margin of 1.92% and a positive return on equity of 6.80%. During the same quarter in the previous year, the business posted $0.72 EPS. As a group, equities research analysts predict that The Kraft Heinz Company will post 2.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be paid a $0.40 dividend. The ex-dividend date is Thursday, March 11th. This represents a $1.60 annualized dividend and a dividend yield of 4.30%. The Kraft Heinz’s dividend payout ratio is currently 56.14%.

In related news, Director Elio Leoni Sceti acquired 90,000 shares of the stock in a transaction dated Wednesday, December 2nd. The stock was bought at an average price of $33.22 per share, for a total transaction of $2,989,800.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

The Kraft Heinz Company Profile

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, meals, meats and seafood, frozen and chilled foods, packaged drinking pouches, appetizers, refreshment beverages, coffee, nuts and salted snacks, infant and nutrition products, and other grocery products, as well as desserts, dressings, toppings, and baking.

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

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