Wellington Management Group LLP Boosts Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Wellington Management Group LLP grew its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 39.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,864 shares of the company's stock after buying an additional 50,211 shares during the period. Wellington Management Group LLP's holdings in Kraft Heinz were worth $5,431,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in Kraft Heinz during the fourth quarter valued at $2,048,000. Banque Pictet & Cie SA lifted its stake in shares of Kraft Heinz by 10.8% in the 4th quarter. Banque Pictet & Cie SA now owns 90,000 shares of the company's stock valued at $2,764,000 after purchasing an additional 8,787 shares during the period. Americana Partners LLC bought a new stake in shares of Kraft Heinz during the 4th quarter valued at about $7,005,000. Van ECK Associates Corp grew its stake in Kraft Heinz by 2.2% during the fourth quarter. Van ECK Associates Corp now owns 125,388 shares of the company's stock worth $3,850,000 after purchasing an additional 2,727 shares during the period. Finally, AustralianSuper Pty Ltd increased its holdings in Kraft Heinz by 137.7% in the fourth quarter. AustralianSuper Pty Ltd now owns 506,587 shares of the company's stock worth $15,557,000 after purchasing an additional 293,459 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Kraft Heinz from $32.00 to $28.00 and set a "sell" rating for the company in a research report on Thursday, February 13th. Citigroup reiterated 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. 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 research report on Wednesday, April 30th. DZ Bank lowered Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a research report on Friday, May 9th. Finally, Bank of America lowered Kraft Heinz from a "buy" rating to an "underperform" rating and cut their price target for the stock from $36.00 to $30.00 in a report on Thursday, February 13th. Four investment 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 an average rating of "Hold" and an average target price of $30.53.

Kraft Heinz Price Performance

NASDAQ:KHC traded up $0.05 during trading hours on Friday, hitting $26.67. 3,696,856 shares of the company's stock traded hands, compared to its average volume of 9,504,372. The firm has a market cap of $31.56 billion, a P/E ratio of 11.80, a P/E/G ratio of 3.39 and a beta of 0.30. 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 business's fifty day simple moving average is $28.34 and its two-hundred day simple moving average is $29.63. The Kraft Heinz Company has a 52 week low of $26.01 and a 52 week high of $36.53.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The company's revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS. On average, research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.00%. The ex-dividend date is Friday, May 30th. Kraft Heinz's dividend payout ratio (DPR) is currently 73.06%.

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.