Steel Grove Capital Advisors LLC lifted its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 520.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,713 shares of the company's stock after buying an additional 49,256 shares during the period. Steel Grove Capital Advisors LLC's holdings in Kraft Heinz were worth $1,787,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Generali Investments Management Co LLC acquired a new stake in Kraft Heinz in the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Kraft Heinz in the fourth quarter valued at approximately $29,000. OFI Invest Asset Management purchased a new position in Kraft Heinz during the fourth quarter worth approximately $36,000. Pinney & Scofield Inc. acquired a new position in shares of Kraft Heinz in the 4th quarter valued at $38,000. Finally, Abound Wealth Management grew its stake in shares of Kraft Heinz by 1,157.0% during the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company's stock valued at $38,000 after buying an additional 1,157 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.
Kraft Heinz Stock Performance
Shares of KHC traded down $0.03 during midday trading on Friday, hitting $25.65. 8,386,060 shares of the stock traded hands, compared to its average volume of 9,618,542. The business's 50 day moving average price is $27.73 and its two-hundred day moving average price is $29.25. The firm has a market capitalization of $30.36 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 3.00 and a beta of 0.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.31. Kraft Heinz Company has a 1-year low of $25.53 and a 1-year high of $36.53.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. Kraft Heinz's revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 earnings per share. Equities research analysts predict that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.
Kraft Heinz Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.24%. The ex-dividend date is Friday, May 30th. Kraft Heinz's payout ratio is currently 73.06%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on KHC. Cfra Research cut Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. Mizuho set a $29.00 price objective on shares of Kraft Heinz and gave the company a "neutral" rating in a research report on Wednesday, May 28th. The Goldman Sachs Group reduced their target price on shares of Kraft Heinz from $27.00 to $25.00 and set a "sell" rating on the stock in a research report on Monday, June 9th. Sanford C. Bernstein lowered shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $34.00 to $31.00 in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus cut their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Four equities research 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 currently has an average rating of "Hold" and a consensus price target of $30.35.
Check Out Our Latest Research Report on KHC
Kraft Heinz Company 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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