Bell Bank Grows Stock Holdings in Kraft Heinz Company (NASDAQ:KHC)

Bell Bank increased its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,405 shares of the company's stock after buying an additional 25,911 shares during the quarter. Bell Bank's holdings in Kraft Heinz were worth $8,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Generali Investments Management Co LLC purchased a new stake in Kraft Heinz during the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Kraft Heinz during the 4th quarter valued at about $29,000. OFI Invest Asset Management purchased a new stake in Kraft Heinz during the 4th quarter valued at about $36,000. Pinney & Scofield Inc. purchased a new stake in Kraft Heinz during the 4th quarter valued at about $38,000. Finally, Abound Wealth Management grew its stake in 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 purchasing an additional 1,157 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KHC. Wall Street Zen raised Kraft Heinz from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Mizuho set a $29.00 price objective on Kraft Heinz and gave the company a "neutral" rating in a report on Wednesday, May 28th. Citigroup reaffirmed a "sell" rating and issued a $27.00 price target (down previously from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Stifel Nicolaus reduced their price target on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Finally, Cfra Research cut Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. Four investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company's stock. According to MarketBeat.com, Kraft Heinz currently has an average rating of "Hold" and a consensus price target of $30.35.

Kraft Heinz Trading Down 0.3%

Kraft Heinz stock traded down $0.07 during mid-day trading on Wednesday, hitting $25.68. The company's stock had a trading volume of 12,392,718 shares, compared to its average volume of 9,621,145. The firm has a market capitalization of $30.39 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 3.01 and a beta of 0.27. Kraft Heinz Company has a 1 year low of $25.53 and a 1 year high of $36.53. 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's fifty day moving average is $27.86 and its two-hundred day moving average is $29.32.

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

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be given a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 6.23%. Kraft Heinz's payout ratio is 73.06%.

Kraft Heinz Company 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.