The Kraft Heinz Company (NASDAQ:KHC) Shares Acquired by Poplar Forest Capital LLC

Poplar Forest Capital LLC boosted its position in The Kraft Heinz Company (NASDAQ:KHC) by 9.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 898,614 shares of the company’s stock after purchasing an additional 80,705 shares during the period. Kraft Heinz comprises 4.3% of Poplar Forest Capital LLC’s holdings, making the stock its 9th largest position. Poplar Forest Capital LLC owned about 0.07% of Kraft Heinz worth $31,550,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Blake Schutter Theil Wealth Advisors LLC acquired a new stake in Kraft Heinz during the third quarter worth approximately $241,000. Concurrent Investment Advisors LLC increased its holdings in shares of Kraft Heinz by 16.2% during the third quarter. Concurrent Investment Advisors LLC now owns 50,744 shares of the company’s stock worth $1,782,000 after purchasing an additional 7,076 shares during the period. Foster & Motley Inc. increased its holdings in shares of Kraft Heinz by 33.2% during the third quarter. Foster & Motley Inc. now owns 129,400 shares of the company’s stock worth $4,543,000 after purchasing an additional 32,255 shares during the period. Benchmark Financial Wealth Advisors LLC bought a new position in shares of Kraft Heinz during the third quarter worth approximately $268,000. Finally, Amalgamated Bank increased its holdings in shares of Kraft Heinz by 4.6% during the third quarter. Amalgamated Bank now owns 173,759 shares of the company’s stock worth $6,101,000 after purchasing an additional 7,680 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on KHC shares. JPMorgan Chase & Co. lowered their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Barclays decreased their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Citigroup decreased their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and a consensus price target of $37.25.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $33.42 on Thursday. The company has a market capitalization of $40.41 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 3.81 and a beta of 0.49. The Kraft Heinz Company has a twelve month low of $31.58 and a twelve month high of $38.96. The stock has a fifty day simple moving average of $35.01 and a 200 day simple moving average of $34.74. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. During the same period last year, the business posted $0.72 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. Sell-side analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.79%. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.