Stocks of The Kraft Heinz Company (NASDAQ:KHC) traded higher last session on Wall Street, up 0.93% to $38.10.
KHC stock price is now 6.39% away from the 50-day moving average and 0.11% away from the 200-day moving average. The market capitalization of the company currently stands at $46.24B.
With the price target of $39, Exane BNP Paribas recently initiated with Neutral rating for The Kraft Heinz Company (NASDAQ: KHC). On October 10, 2022, Goldman Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $43, while ‘UBS’ rates the stock as ‘Neutral’.
In other news, La Lande Rashida, EVP, Global GC & CSCAO sold 30,000 shares of the company’s stock on Aug 19. The stock was sold for $1,150,803 at an average price of $38.36. Upon completion of the transaction, the EVP, Global GC & CSCAO now directly owns 223,062 shares in the company, valued at $8.5 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 17, VP, Global Controller (PAO) Garlati Vince sold 19,938 shares of the business’s stock. A total of $766,130 was realized by selling the stock at an average price of $38.43. This leaves the insider owning 94,843 shares of the company worth $3.61 million. Insiders disposed of 119,641,685 shares of company stock worth roughly $4.56 billion over the past 1 year. A total of 8.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in KHC stock. A new stake in The Kraft Heinz Company shares was purchased by BILL & MELINDA GATES FOUNDATION TRUST during the first quarter worth $99,921,000. HOMESTEAD ADVISERS CORP invested $33,627,000 in shares of KHC during the first quarter. In the first quarter, VOLORIDGE INVESTMENT MANAGEMENT, LLC acquired a new stake in The Kraft Heinz Company valued at approximately $19,395,000. ARROWSTREET CAPITAL, LIMITED PARTNERSHIP acquired a new stake in KHC for approximately $16,813,000. CAPITAL GROUP PRIVATE CLIENT SERVICES, INC. purchased a new stake in KHC valued at around $10,227,000 in the second quarter. In total, there are 1,497 active investors with 78.30% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $38.02 for The Kraft Heinz Company (NASDAQ: KHC). During the past 12 months, The Kraft Heinz Company has had a low of $32.73 and a high of $44.87. As of last week, the company has a debt-to-equity ratio of 0.42, a current ratio of 0.90, and a quick ratio of 0.50. The fifty day moving average price for KHC is $35.84 and a two-hundred day moving average price translates $38.07 for the stock.
The latest earnings results from The Kraft Heinz Company (NASDAQ: KHC) was released for Jun, 2022. According to the Packaged Foods Company, earnings per share came in at $0.63, beating analysts’ expectations of $0.56 by 0.07. This compares to $0.60 EPS in the same period last year. The net profit margin was 4.70% and return on equity was 2.50% for KHC. The company reported revenue of $6.5 billion for the quarter, compared to $6.32 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.86 percent. For the current quarter, analysts expect KHC to generate $7.14B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/30/2022. Investors who held shares on 11/25/2022 were paid a $0.40 dividend. On an annualized basis, this represents a $1.60 dividend and a 4.20% percent yield. There was an ex-dividend date of 11/23/2022 for this dividend. In terms of dividend payout ratio, KHC is presently at 161.30%.
The Kraft Heinz Company(KHC) 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 products, meals, meats, refreshment beverages, coffee, and other grocery products. The company also offers dressings, healthy snacks, and other categories; and spices and other seasonings. It sells its products through its own sales organizations, as well as through independent brokers, agents, and distributors to chain, wholesale, cooperative and independent grocery accounts, convenience stores, drug stores, value stores, bakeries, pharmacies, mass merchants, club stores, and foodservice distributors and institutions, including hotels, restaurants, hospitals, health care facilities, and government agencies; and online through various e-commerce platforms and retailers. The company was formerly known as H.J. Heinz Holding Corporation and changed its name to The Kraft Heinz Company in July 2015. The Kraft Heinz Company was founded in 1869 and is headquartered in Pittsburgh, Pennsylvania.