The Kraft Heinz Company (NASDAQ:KHC) Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN boosted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 270,705 shares of the company's stock after purchasing an additional 27,650 shares during the quarter. OLD National Bancorp IN's holdings in Kraft Heinz were worth $8,238,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of KHC. Generali Investments Management Co LLC acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Kraft Heinz in the fourth quarter valued at $29,000. OFI Invest Asset Management acquired a new stake in shares of Kraft Heinz during the fourth quarter worth about $36,000. Pinney & Scofield Inc. acquired a new position in Kraft Heinz in the 4th quarter valued at about $38,000. Finally, Kennondale Capital Management LLC purchased a new stake in Kraft Heinz during the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 78.17% of the company's stock.

Kraft Heinz Stock Down 0.6%

Shares of KHC traded down $0.17 during mid-day trading on Wednesday, reaching $26.42. 10,164,251 shares of the stock traded hands, compared to its average volume of 9,536,271. The Kraft Heinz Company has a 12-month low of $26.01 and a 12-month high of $36.53. The firm has a market cap of $31.27 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 3.39 and a beta of 0.27. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The stock has a fifty day simple moving average of $28.11 and a 200 day simple moving average of $29.52.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its 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 return on equity of 7.58% and a net margin of 10.62%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The company's revenue for the quarter was down 6.4% compared to the same quarter last year. Sell-side analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.06%. Kraft Heinz's dividend payout ratio (DPR) is presently 73.06%.

Wall Street Analyst Weigh In

Several research firms have recently commented on KHC. The Goldman Sachs Group cut their price target on Kraft Heinz from $27.00 to $25.00 and set a "sell" rating for the company in a research note on Monday. Stifel Nicolaus dropped their target price on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley started coverage on Kraft Heinz in a report on Monday, March 24th. They issued an "underweight" rating and a $29.00 price target for the company. Citigroup reaffirmed a "sell" rating and set a $27.00 price objective (down previously from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Finally, DZ Bank lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research report on Friday, May 9th. Four analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat.com, Kraft Heinz currently has a consensus rating of "Hold" and a consensus price target of $30.35.

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.