Traders Buy Kraft Heinz (KHC) on Weakness
Traders purchased shares of Kraft Heinz Co (NASDAQ:KHC) on weakness during trading on Thursday. $62.86 million flowed into the stock on the tick-up and $36.85 million flowed out of the stock on the tick-down, for a money net flow of $26.01 million into the stock. Of all stocks tracked, Kraft Heinz had the 14th highest net in-flow for the day. Kraft Heinz traded down ($0.76) for the day and closed at $77.13
Several research analysts recently commented on KHC shares. Royal Bank of Canada reissued a “buy” rating and issued a $95.00 price objective on shares of Kraft Heinz in a research note on Tuesday, October 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price objective on shares of Kraft Heinz in a research note on Thursday, September 21st. UBS Group reissued a “buy” rating and issued a $89.00 price objective (down from $97.00) on shares of Kraft Heinz in a research note on Friday, October 13th. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, BidaskClub raised Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Kraft Heinz has a consensus rating of “Buy” and an average target price of $92.49.
The company has a current ratio of 0.77, a quick ratio of 0.43 and a debt-to-equity ratio of 0.48. The company has a market cap of $93,980.44, a price-to-earnings ratio of 21.67, a PEG ratio of 1.96 and a beta of 0.45.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Thursday, November 16th. Kraft Heinz’s payout ratio is currently 77.88%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Kraft Heinz by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 42,636,788 shares of the company’s stock worth $3,651,416,000 after purchasing an additional 487,241 shares during the period. BlackRock Inc. grew its holdings in shares of Kraft Heinz by 1.7% during the 2nd quarter. BlackRock Inc. now owns 33,115,081 shares of the company’s stock worth $2,835,974,000 after purchasing an additional 562,183 shares during the period. FMR LLC grew its holdings in shares of Kraft Heinz by 30.0% during the 2nd quarter. FMR LLC now owns 11,516,822 shares of the company’s stock worth $986,301,000 after purchasing an additional 2,659,846 shares during the period. TIAA CREF Investment Management LLC grew its holdings in shares of Kraft Heinz by 0.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 5,648,397 shares of the company’s stock worth $483,729,000 after purchasing an additional 33,503 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Kraft Heinz by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,022,817 shares of the company’s stock worth $234,426,000 after purchasing an additional 17,465 shares during the period. Institutional investors and hedge funds own 62.02% of the company’s stock.
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Kraft Heinz Company Profile
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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