Adage Capital Partners GP L.L.C. Buys 90,800 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Adage Capital Partners GP L.L.C. raised its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 824,732 shares of the company's stock after purchasing an additional 90,800 shares during the period. Adage Capital Partners GP L.L.C. owned 0.07% of Kraft Heinz worth $25,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of KHC. Vanguard Group Inc. raised its position in shares of Kraft Heinz by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock valued at $2,779,524,000 after acquiring an additional 14,996,486 shares during the period. Geode Capital Management LLC raised its holdings in Kraft Heinz by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 19,745,734 shares of the company's stock worth $604,644,000 after purchasing an additional 595,406 shares during the period. Norges Bank bought a new position in shares of Kraft Heinz during the fourth quarter worth $324,857,000. Nordea Investment Management AB increased its position in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company's stock valued at $269,906,000 after buying an additional 1,238,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Kraft Heinz by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,525,110 shares of the company's stock worth $200,369,000 after buying an additional 174,706 shares during the period. Institutional investors own 78.17% of the company's stock.

Kraft Heinz Price Performance

Kraft Heinz stock traded up $0.12 during mid-day trading on Wednesday, reaching $28.99. 4,923,983 shares of the company were exchanged, compared to its average volume of 9,142,555. The firm has a market cap of $34.60 billion, a PE ratio of 12.83, a PEG ratio of 3.39 and a beta of 0.44. The Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $38.72. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The company has a fifty day simple moving average of $30.02 and a 200-day simple moving average of $30.81.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $6 billion during the quarter, compared to analysts' expectations of $6.02 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Kraft Heinz's revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. As a group, equities research analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.52%. Kraft Heinz's dividend payout ratio is presently 70.80%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on KHC shares. Sanford C. Bernstein downgraded Kraft Heinz from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $34.00 to $31.00 in a report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Piper Sandler cut their price target on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company dropped their target price on Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Finally, Citigroup reaffirmed a "sell" rating and issued a $27.00 target price (down previously from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. Four analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat.com, Kraft Heinz has an average rating of "Hold" and an average target price of $30.63.

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.