GAMMA Investing LLC Acquires 468,285 Shares of The Kraft Heinz Company (NASDAQ:KHC)

GAMMA Investing LLC raised its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 3,799.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 480,611 shares of the company's stock after acquiring an additional 468,285 shares during the quarter. GAMMA Investing LLC's holdings in Kraft Heinz were worth $15,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in KHC. Choreo LLC increased its holdings in shares of Kraft Heinz by 31.0% in the fourth quarter. Choreo LLC now owns 63,353 shares of the company's stock worth $1,933,000 after purchasing an additional 15,000 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Kraft Heinz by 1.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,688,249 shares of the company's stock worth $82,556,000 after purchasing an additional 49,827 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Kraft Heinz by 1.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 115,107 shares of the company's stock worth $3,535,000 after purchasing an additional 1,817 shares during the period. Cidel Asset Management Inc. increased its holdings in shares of Kraft Heinz by 12.0% in the fourth quarter. Cidel Asset Management Inc. now owns 7,858 shares of the company's stock worth $241,000 after purchasing an additional 845 shares during the period. Finally, Apollon Wealth Management LLC increased its holdings in shares of Kraft Heinz by 4.9% in the fourth quarter. Apollon Wealth Management LLC now owns 21,883 shares of the company's stock worth $672,000 after purchasing an additional 1,026 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. DZ Bank cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a report on Friday, May 9th. Wall Street Zen upgraded shares of Kraft Heinz from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Stifel Nicolaus cut their price target on shares of Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Barclays cut their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. Finally, Citigroup restated a "sell" rating and set a $27.00 price target (down from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. Four investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $30.53.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $26.73 on Friday. 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 firm has a 50-day moving average of $28.26 and a 200-day moving average of $29.60. The firm has a market cap of $31.64 billion, a P/E ratio of 11.83, a P/E/G ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a 1-year low of $26.01 and a 1-year high of $36.53.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. Kraft Heinz's revenue was down 6.4% on a year-over-year basis. Sell-side analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz's payout ratio 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.

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