Abundance Wealth Counselors Purchases 10,372 Shares of Kraft Heinz Company (NASDAQ:KHC)

Abundance Wealth Counselors raised its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 27.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,232 shares of the company's stock after buying an additional 10,372 shares during the quarter. Abundance Wealth Counselors' holdings in Kraft Heinz were worth $1,468,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Kraft Heinz by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock valued at $2,779,524,000 after purchasing an additional 14,996,486 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Kraft Heinz by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 19,745,734 shares of the company's stock valued at $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 valued at $324,857,000. Northern Trust Corp grew its position in shares of Kraft Heinz by 12.6% in the fourth quarter. Northern Trust Corp now owns 9,289,691 shares of the company's stock valued at $285,286,000 after purchasing an additional 1,039,885 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Kraft Heinz by 23.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,585,167 shares of the company's stock valued at $263,650,000 after purchasing an additional 1,628,516 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KHC shares. Mizuho set a $29.00 price target on Kraft Heinz and gave the company a "neutral" rating in a research report on Wednesday, May 28th. DZ Bank lowered Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research note on Friday, May 9th. Cfra Research lowered Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Sanford C. Bernstein lowered Kraft Heinz from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Finally, Wall Street Zen raised Kraft Heinz from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $30.35.

Kraft Heinz Trading Down 0.3%

Shares of KHC stock opened at $25.68 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $27.73 and a two-hundred day moving average price of $29.25. Kraft Heinz Company has a 12-month low of $25.53 and a 12-month high of $36.53. The firm has a market cap of $30.39 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 3.00 and a beta of 0.27.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results 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 7.37% and a net margin of 10.44%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company's revenue was down 6.4% compared to the same quarter last year. Equities analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business 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 $0.40 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 6.23%. Kraft Heinz's dividend payout ratio is currently 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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