Russell Investments Group Ltd. Purchases 13,688 Shares of Kraft Heinz Company $KHC

Russell Investments Group Ltd. lifted its position in shares of Kraft Heinz Company (NASDAQ:KHC) by 1.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,445,552 shares of the company’s stock after purchasing an additional 13,688 shares during the quarter. Russell Investments Group Ltd. owned 0.12% of Kraft Heinz worth $37,324,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Kraft Heinz by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 102,435,702 shares of the company’s stock worth $2,644,890,000 after acquiring an additional 454,868 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Kraft Heinz by 14.7% during the 2nd quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock valued at $681,663,000 after purchasing an additional 3,392,470 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Kraft Heinz by 22.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,480,889 shares of the company’s stock worth $318,933,000 after acquiring an additional 1,895,722 shares during the period. Nordea Investment Management AB raised its holdings in shares of Kraft Heinz by 11.1% in the 2nd quarter. Nordea Investment Management AB now owns 7,820,516 shares of the company’s stock worth $201,300,000 after purchasing an additional 778,744 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Kraft Heinz by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,875,177 shares of the company’s stock worth $209,201,000 after buying an additional 350,067 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $25.34 on Friday. Kraft Heinz Company has a 1-year low of $23.70 and a 1-year high of $33.35. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $25.25 and a 200-day moving average of $26.39. The firm has a market cap of $29.99 billion, a P/E ratio of -6.79, a P/E/G ratio of 2.88 and a beta of 0.16.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. The firm had revenue of $6.39 billion for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%. Sell-side analysts expect that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Friday, November 28th. Kraft Heinz’s payout ratio is presently -42.90%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus lowered their price objective on Kraft Heinz from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, September 3rd. Wells Fargo & Company cut their price objective on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Barclays dropped their target price on Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Jefferies Financial Group dropped their price objective on Kraft Heinz from $28.00 to $24.00 and set a “hold” rating on the stock in a report on Wednesday, October 15th. Finally, Zacks Research lowered shares of Kraft Heinz from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $26.58.

About Kraft Heinz

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.