Kraft Heinz Company $KHC Shares Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP lifted its holdings in Kraft Heinz Company (NASDAQ:KHC) by 50,892.1% in the third quarter, HoldingsChannel reports. The firm owned 71,389 shares of the company’s stock after buying an additional 71,249 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Kraft Heinz were worth $1,674,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Kraft Heinz in the 2nd quarter valued at approximately $1,803,911,000. Nykredit A S purchased a new stake in shares of Kraft Heinz during the second quarter worth $181,408,000. Deutsche Bank AG purchased a new stake in shares of Kraft Heinz during the second quarter worth $179,876,000. Bank of New York Mellon Corp purchased a new stake in shares of Kraft Heinz during the second quarter worth $170,097,000. Finally, Legal & General Group Plc acquired a new stake in shares of Kraft Heinz in the second quarter valued at $142,611,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on KHC shares. UBS Group upped their price target on Kraft Heinz from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. Wall Street Zen downgraded Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Evercore set a $24.00 target price on shares of Kraft Heinz in a research note on Thursday, August 6th. Piper Sandler raised their target price on shares of Kraft Heinz from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, Barclays dropped their price objective on shares of Kraft Heinz from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $23.80.

Kraft Heinz Trading Down 0.7%

NASDAQ:KHC opened at $24.25 on Wednesday. Kraft Heinz Company has a 1 year low of $21.03 and a 1 year high of $28.09. The stock has a market cap of $28.71 billion, a P/E ratio of -8.48, a P/E/G ratio of 2.99 and a beta of 0.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.68 and a current ratio of 1.06. The stock has a 50-day simple moving average of $23.95 and a 200-day simple moving average of $23.93.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.11. The business had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.09 billion. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.61 EPS. As a group, analysts anticipate that Kraft Heinz Company will post 2.06 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Friday, December 4th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.6%. The ex-dividend date is Friday, December 4th. Kraft Heinz’s dividend payout ratio is currently -54.79%.

Kraft Heinz Profile

The Kraft Heinz Company (NASDAQ: KHC) manufactures and markets food and beverage products for consumers, retailers and food-service businesses. Its portfolio includes condiments and sauces, cheese and dairy products, packaged meals, meats, snacks and beverages, sold under brands such as Heinz, Kraft, Oscar Mayer and Philadelphia. The company was formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. It serves customers in the United States and other markets around the world, with its business spanning North America and international regions.