Shares of The Kraft Heinz Company (NASDAQ:KHC – Get Rating) saw strong trading volume on Wednesday following a dividend announcement from the company. 5,052,873 shares were traded during trading, a decline of 21% from the previous session’s volume of 6,434,833 shares.The stock last traded at $41.20 and had previously closed at $39.45.
The newly announced dividend which will be paid on Friday, June 30th. Shareholders of record on Tuesday, June 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.98%. Kraft Heinz’s payout ratio is 83.77%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. StockNews.com assumed coverage on Kraft Heinz in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Stifel Nicolaus assumed coverage on Kraft Heinz in a report on Thursday, April 13th. They issued a “buy” rating and a $44.00 price objective on the stock. Mizuho lifted their price objective on Kraft Heinz from $48.00 to $50.00 in a report on Friday, January 6th. Morgan Stanley lifted their price objective on Kraft Heinz from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, February 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Kraft Heinz from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $43.08.
Kraft Heinz Price Performance
Kraft Heinz (NASDAQ:KHC – Get Rating) last posted its earnings results on Wednesday, February 15th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Kraft Heinz had a return on equity of 7.03% and a net margin of 8.92%. The firm had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the prior year, the business earned $0.79 EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts forecast that The Kraft Heinz Company will post 2.71 earnings per share for the current year.
Insiders Place Their Bets
In related news, EVP Flavio Torres sold 250,571 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $39.58, for a total value of $9,917,600.18. Following the sale, the executive vice president now owns 188,983 shares in the company, valued at approximately $7,479,947.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.32% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in Kraft Heinz by 1,835.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock worth $794,964,000 after acquiring an additional 18,518,584 shares in the last quarter. BlackRock Inc. grew its holdings in Kraft Heinz by 25.3% during the 3rd quarter. BlackRock Inc. now owns 56,572,464 shares of the company’s stock valued at $1,886,694,000 after buying an additional 11,428,520 shares in the last quarter. Vanguard Group Inc. grew its holdings in Kraft Heinz by 15.3% during the 3rd quarter. Vanguard Group Inc. now owns 67,502,147 shares of the company’s stock valued at $2,251,197,000 after buying an additional 8,948,708 shares in the last quarter. Capital World Investors grew its holdings in Kraft Heinz by 96.5% during the 1st quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock valued at $524,360,000 after buying an additional 6,537,000 shares in the last quarter. Finally, Norges Bank purchased a new stake in Kraft Heinz during the 4th quarter valued at approximately $252,224,000. 68.80% of the stock is owned by institutional investors.
About Kraft Heinz
The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015, and is headquartered in Pittsburgh, PA.
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