Alteri Wealth LLC purchased a new position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,041 shares of the company's stock, valued at approximately $278,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Kraft Heinz by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock worth $2,779,524,000 after buying an additional 14,996,486 shares during the period. Geode Capital Management LLC increased its position in shares of Kraft Heinz by 3.1% during 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 in the last quarter. Norges Bank purchased a new position in shares of Kraft Heinz in the fourth quarter worth about $324,857,000. Northern Trust Corp boosted its holdings in shares of Kraft Heinz by 12.6% during the 4th quarter. Northern Trust Corp now owns 9,289,691 shares of the company's stock worth $285,286,000 after purchasing an additional 1,039,885 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company's stock valued at $269,906,000 after purchasing an additional 1,238,200 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.
Kraft Heinz Price Performance
Shares of Kraft Heinz stock traded up $0.26 on Thursday, hitting $28.49. The company's stock had a trading volume of 8,217,823 shares, compared to its average volume of 9,114,446. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average price of $29.73 and a 200-day moving average price of $30.55. The Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $36.70. The company has a market capitalization of $33.72 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results 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 company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. Kraft Heinz's revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. On average, equities research analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.
Kraft Heinz Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.62%. The ex-dividend date is Friday, May 30th. Kraft Heinz's dividend payout ratio (DPR) is 73.06%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on KHC. JPMorgan Chase & Co. dropped their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Citigroup reaffirmed a "sell" rating and set a $27.00 price target (down from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. TD Cowen cut their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Sanford C. Bernstein cut Kraft Heinz from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company decreased their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat, Kraft Heinz has a consensus rating of "Hold" and a consensus target price of $30.63.
Get Our Latest Research Report on KHC
About Kraft Heinz
(
Free Report)
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.
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