Procyon Advisors LLC bought a new position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,824 shares of the company's stock, valued at approximately $451,000.
A number of other large investors also recently modified their holdings of KHC. Headlands Technologies LLC acquired a new stake in Kraft Heinz in the fourth quarter worth $2,048,000. Versant Capital Management Inc grew its position in Kraft Heinz by 493.4% in the 1st quarter. Versant Capital Management Inc now owns 12,354 shares of the company's stock worth $376,000 after purchasing an additional 10,272 shares during the last quarter. Banque Pictet & Cie SA raised its holdings in shares of Kraft Heinz by 10.8% during the fourth quarter. Banque Pictet & Cie SA now owns 90,000 shares of the company's stock valued at $2,764,000 after buying an additional 8,787 shares during the last quarter. Americana Partners LLC acquired a new position in shares of Kraft Heinz during the fourth quarter worth approximately $7,005,000. Finally, Van ECK Associates Corp grew its holdings in Kraft Heinz by 2.2% in the 4th quarter. Van ECK Associates Corp now owns 125,388 shares of the company's stock worth $3,850,000 after buying an additional 2,727 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.
Kraft Heinz Stock Performance
NASDAQ KHC opened at $26.73 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The company's fifty day moving average is $28.26 and its two-hundred day moving average is $29.58. The Kraft Heinz Company has a 52-week low of $26.01 and a 52-week high of $36.53. The firm has a market capitalization of $31.64 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 3.39 and a beta of 0.27.
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, beating the consensus estimate of $0.60 by $0.02. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The business's revenue for the quarter was down 6.4% on a year-over-year basis. Equities research analysts forecast that The Kraft Heinz Company will post 2.68 EPS for the current year.
Kraft Heinz Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be given 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 dividend yield of 5.99%. Kraft Heinz's dividend payout ratio (DPR) is presently 73.06%.
Analysts Set New Price Targets
A number of research analysts have recently commented on KHC shares. Piper Sandler lowered their price target on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Mizuho set a $29.00 price target on shares of Kraft Heinz and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Sanford C. Bernstein lowered shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Stifel Nicolaus cut their target price 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, Wall Street Zen raised Kraft Heinz from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Four analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $30.53.
Read Our Latest Research Report on Kraft Heinz
About Kraft Heinz
(
Free Report)
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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