Woodline Partners LP Buys Shares of 53,010 The Kraft Heinz Company (NASDAQ:KHC)

Woodline Partners LP bought a new position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 53,010 shares of the company's stock, valued at approximately $1,628,000.

Several other institutional investors and hedge funds have also made changes to their positions in KHC. New York Life Investment Management LLC grew its stake in Kraft Heinz by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 130,075 shares of the company's stock valued at $3,995,000 after purchasing an additional 361 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of Kraft Heinz by 5.3% during the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company's stock worth $223,000 after purchasing an additional 366 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Kraft Heinz by 1.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company's stock worth $1,097,000 after purchasing an additional 370 shares during the period. Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of Kraft Heinz by 4.0% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,009 shares of the company's stock worth $307,000 after purchasing an additional 386 shares during the period. Finally, Rehmann Capital Advisory Group lifted its holdings in shares of Kraft Heinz by 3.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 13,902 shares of the company's stock worth $427,000 after purchasing an additional 408 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Price Performance

Shares of KHC traded up $0.03 during trading hours on Friday, hitting $26.65. 3,207,677 shares of the stock were exchanged, compared to its average volume of 9,409,512. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The Kraft Heinz Company has a 12-month low of $26.01 and a 12-month high of $36.53. The company has a market cap of $31.54 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30. The stock's 50-day moving average price is $28.66 and its two-hundred day moving average price is $29.80.

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

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz's payout ratio is currently 73.06%.

Analyst Ratings Changes

A number of equities research analysts recently commented on KHC shares. Citigroup reaffirmed a "sell" rating and set a $27.00 target price (down previously from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Sanford C. Bernstein downgraded Kraft Heinz from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $34.00 to $31.00 in a report on Tuesday, April 22nd. Piper Sandler lowered their price objective on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Cfra Research lowered Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered their price objective on Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Four analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company's stock. According to data from MarketBeat.com, Kraft Heinz has an average rating of "Hold" and a consensus price target of $30.53.

About Kraft Heinz

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.