Bank of New York Mellon Corp Boosts Stake in Kraft Heinz Company (NASDAQ:KHC)

Bank of New York Mellon Corp raised its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,171,720 shares of the company's stock after purchasing an additional 103,548 shares during the quarter. Bank of New York Mellon Corp owned about 0.68% of Kraft Heinz worth $248,665,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Generali Investments Management Co LLC acquired a new position in shares of Kraft Heinz in the 4th quarter worth $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Kraft Heinz in the fourth quarter worth $29,000. Rossby Financial LCC acquired a new stake in shares of Kraft Heinz in the first quarter worth $29,000. Wayfinding Financial LLC acquired a new stake in shares of Kraft Heinz in the first quarter worth $33,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Kraft Heinz in the fourth quarter worth $36,000. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Cfra Research cut Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and raised their target price for the stock from $25.00 to $27.00 in a research report on Wednesday, June 25th. Mizuho set a $29.00 price objective on Kraft Heinz and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Stifel Nicolaus reduced their price objective on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Finally, DZ Bank cut Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $30.47.

Kraft Heinz Price Performance

KHC traded up $0.54 during trading on Tuesday, hitting $26.62. 2,767,634 shares of the stock traded hands, compared to its average volume of 10,067,268. Kraft Heinz Company has a twelve month low of $25.44 and a twelve month high of $36.53. The company has a market cap of $31.50 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 3.12 and a beta of 0.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.81. The business has a 50 day moving average price of $26.92 and a 200 day moving average price of $28.81.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced 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. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. The company's revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. Equities research analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 6.01%. Kraft Heinz's dividend payout ratio (DPR) is currently 73.06%.

Kraft Heinz 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.