Cornerstone Select Advisors LLC Acquires New Shares in The Kraft Heinz Company (NASDAQ:KHC)

Cornerstone Select Advisors LLC bought a new stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,473 shares of the company's stock, valued at approximately $537,000.

Several other hedge funds also recently bought and sold shares of KHC. Brevan Howard Capital Management LP bought a new position in shares of Kraft Heinz during the 4th quarter valued at $2,436,000. Bridgefront Capital LLC bought a new position in Kraft Heinz during the fourth quarter valued at about $765,000. Captrust Financial Advisors lifted its position in shares of Kraft Heinz by 71.8% in the fourth quarter. Captrust Financial Advisors now owns 111,341 shares of the company's stock worth $3,419,000 after buying an additional 46,542 shares during the last quarter. Caxton Associates LP boosted its stake in shares of Kraft Heinz by 66.6% during the 4th quarter. Caxton Associates LP now owns 60,471 shares of the company's stock worth $1,857,000 after acquiring an additional 24,163 shares in the last quarter. Finally, Banque de Luxembourg S.A. acquired a new position in shares of Kraft Heinz during the 4th quarter valued at about $1,511,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Kraft Heinz from $32.00 to $28.00 and set a "sell" rating on the stock in a research note on Thursday, February 13th. Mizuho lowered Kraft Heinz from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $38.00 to $31.00 in a research note on Monday, February 10th. Evercore ISI reissued an "in-line" rating and set a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Morgan Stanley began coverage on Kraft Heinz in a report on Monday, March 24th. They issued an "underweight" rating and a $29.00 target price on the stock. Finally, TD Cowen cut their price target on Kraft Heinz from $34.00 to $32.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $30.63.

Kraft Heinz Trading Down 0.7 %

Shares of KHC opened at $28.40 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The stock has a market cap of $33.61 billion, a PE ratio of 12.57, a PEG ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $36.70. The stock has a 50 day simple moving average of $29.78 and a 200-day simple moving average of $30.57.

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

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 5.63%. Kraft Heinz's dividend payout ratio is 73.06%.

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.

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