QSM Asset Management Ltd boosted its stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 20.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 282,946 shares of the company's stock after purchasing an additional 47,200 shares during the period. Kraft Heinz comprises approximately 6.5% of QSM Asset Management Ltd's investment portfolio, making the stock its 5th biggest position. QSM Asset Management Ltd's holdings in Kraft Heinz were worth $8,662,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of KHC. Headlands Technologies LLC acquired a new stake in Kraft Heinz during the 4th quarter worth about $2,048,000. Versant Capital Management Inc grew its stake in Kraft Heinz by 493.4% during the first 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 period. Farther Finance Advisors LLC grew its stake in Kraft Heinz by 58.3% during the first quarter. Farther Finance Advisors LLC now owns 22,111 shares of the company's stock worth $671,000 after purchasing an additional 8,144 shares during the period. Park Avenue Securities LLC grew its stake in Kraft Heinz by 35.4% during the first quarter. Park Avenue Securities LLC now owns 26,041 shares of the company's stock worth $792,000 after purchasing an additional 6,815 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Kraft Heinz during the 4th quarter worth approximately $39,339,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
KHC has been the subject of several recent analyst reports. Citigroup reaffirmed a "sell" rating and set a $27.00 price objective (down previously from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. The Goldman Sachs Group upgraded shares of Kraft Heinz from a "sell" rating to a "neutral" rating and raised their price target for the stock from $25.00 to $27.00 in a report on Wednesday. Morgan Stanley assumed coverage on Kraft Heinz in a research note on Monday, March 24th. They issued an "underweight" rating and a $29.00 target price for the company. Wall Street Zen upgraded Kraft Heinz from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Finally, Cfra Research cut Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Three analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $30.47.
Get Our Latest Stock Analysis on KHC
Kraft Heinz Stock Down 0.7%
Shares of NASDAQ:KHC traded down $0.18 during mid-day trading on Friday, hitting $25.61. 34,109,976 shares of the company traded hands, compared to its average volume of 9,895,813. The company has a current ratio of 1.31, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. The stock has a market cap of $30.31 billion, a P/E ratio of 11.69, a P/E/G ratio of 3.02 and a beta of 0.27. The stock has a 50-day moving average price of $27.30 and a two-hundred day moving average price of $29.03. Kraft Heinz Company has a 12-month low of $25.44 and a 12-month high of $36.53.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings data 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 10.44% and a return on equity of 7.37%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the firm earned $0.69 EPS. The business's revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current year.
Kraft Heinz Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.25%. Kraft Heinz's payout ratio is presently 73.06%.
Kraft Heinz Profile
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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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