LifePlan Financial LLC bought a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,635 shares of the company's stock, valued at approximately $1,244,000. Kraft Heinz comprises approximately 1.2% of LifePlan Financial LLC's portfolio, making the stock its 25th largest holding.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Trust N.A. lifted its stake in shares of Kraft Heinz by 11.0% during the fourth quarter. Raymond James Trust N.A. now owns 39,610 shares of the company's stock worth $1,465,000 after buying an additional 3,916 shares during the period. Hudson Bay Capital Management LP purchased a new position in Kraft Heinz in the third quarter valued at $5,399,000. Victory Capital Management Inc. increased its holdings in Kraft Heinz by 16.3% in the third quarter. Victory Capital Management Inc. now owns 1,768,073 shares of the company's stock valued at $59,478,000 after buying an additional 247,896 shares in the last quarter. FMR LLC increased its holdings in Kraft Heinz by 37.9% in the third quarter. FMR LLC now owns 3,029,052 shares of the company's stock valued at $101,897,000 after buying an additional 832,653 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Kraft Heinz by 3,383.4% in the fourth quarter. International Assets Investment Management LLC now owns 393,727 shares of the company's stock valued at $14,560,000 after buying an additional 382,424 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on KHC shares. Citigroup began coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They issued a "buy" rating and a $43.00 price objective for the company. Wells Fargo & Company cut their target price on shares of Kraft Heinz from $38.00 to $37.00 and set an "equal weight" rating for the company in a research note on Thursday, February 15th. Finally, Bank of America boosted their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $40.71.
Check Out Our Latest Report on Kraft Heinz
Kraft Heinz Price Performance
KHC traded up $0.37 on Monday, reaching $36.31. 6,990,512 shares of the company's stock were exchanged, compared to its average volume of 8,163,664. The stock has a market cap of $44.14 billion, a PE ratio of 15.68, a P/E/G ratio of 2.84 and a beta of 0.67. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $41.47. The stock's fifty day moving average price is $35.88 and its 200-day moving average price is $35.29. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.99 and a quick ratio of 0.54.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.99 billion. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. Kraft Heinz's revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 EPS. Sell-side analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.
Kraft Heinz Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Thursday, March 7th. Kraft Heinz's dividend payout ratio (DPR) is 69.26%.
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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