Victory Capital Management Inc. Grows Stake in Kraft Heinz Company (NASDAQ:KHC)

Victory Capital Management Inc. boosted its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,628,990 shares of the company's stock after acquiring an additional 82,222 shares during the quarter. Victory Capital Management Inc. owned 0.14% of Kraft Heinz worth $49,570,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS increased its position in shares of Kraft Heinz by 5.1% in the first quarter. Kornitzer Capital Management Inc. KS now owns 350,723 shares of the company's stock valued at $10,673,000 after buying an additional 17,101 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Kraft Heinz by 52.6% in the first quarter. Larson Financial Group LLC now owns 1,558 shares of the company's stock valued at $47,000 after buying an additional 537 shares in the last quarter. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Kraft Heinz in the first quarter valued at approximately $351,000. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Kraft Heinz by 22.9% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,296 shares of the company's stock valued at $310,000 after buying an additional 1,917 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of Kraft Heinz by 12.3% in the first quarter. SBI Securities Co. Ltd. now owns 64,193 shares of the company's stock valued at $1,953,000 after buying an additional 7,048 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Stock Down 1.1%

NASDAQ KHC traded down $0.31 during trading hours on Friday, hitting $27.82. 18,388,640 shares of the company were exchanged, compared to its average volume of 10,666,096. The company has a 50 day moving average of $26.68 and a two-hundred day moving average of $28.62. The company has a quick ratio of 0.81, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Kraft Heinz Company has a 52-week low of $25.44 and a 52-week high of $36.53. The firm has a market cap of $32.93 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 3.26 and a beta of 0.25.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The business's revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 EPS. Equities research analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed 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 was Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 5.75%. Kraft Heinz's payout ratio is 73.06%.

Wall Street Analyst Weigh In

Several brokerages recently commented on KHC. Stifel Nicolaus dropped their price target 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. Citigroup reiterated 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. Sanford C. Bernstein cut Kraft Heinz from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. DZ Bank lowered Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective on the stock. in a research note on Friday, May 9th. Finally, The Goldman Sachs Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $25.00 to $27.00 in a research note on Wednesday, June 25th. Three investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company's stock. Based on data from MarketBeat, Kraft Heinz currently has a consensus rating of "Hold" and a consensus price target of $30.29.

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.