Pingora Partners LLC Increases Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Pingora Partners LLC lifted its holdings in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 59.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 38,148 shares of the company's stock after purchasing an additional 14,248 shares during the period. Kraft Heinz comprises 0.8% of Pingora Partners LLC's holdings, making the stock its 28th biggest position. Pingora Partners LLC's holdings in Kraft Heinz were worth $1,172,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Sawyer & Company Inc acquired a new stake in Kraft Heinz during the 4th quarter worth about $25,000. Generali Investments Management Co LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Kraft Heinz in the fourth quarter valued at approximately $29,000. R Squared Ltd acquired a new position in Kraft Heinz in the 4th quarter worth approximately $34,000. Finally, OFI Invest Asset Management purchased a new position in Kraft Heinz during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analyst Ratings Changes

KHC has been the subject of a number of recent research reports. UBS Group reduced their price objective on Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group decreased their target price on Kraft Heinz from $32.00 to $28.00 and set a "sell" rating on the stock in a research report on Thursday, February 13th. Barclays reduced their price objective on shares of Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. JPMorgan Chase & Co. cut their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Finally, Bank of America cut Kraft Heinz from a "buy" rating to an "underperform" rating and lowered their price objective for the stock from $36.00 to $30.00 in a report on Thursday, February 13th. Four research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $30.69.

Kraft Heinz Trading Up 0.8 %

Shares of KHC stock traded up $0.24 on Wednesday, hitting $29.11. The stock had a trading volume of 3,400,048 shares, compared to its average volume of 9,135,445. The company's 50 day moving average price is $30.02 and its 200-day moving average price is $30.81. The Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $38.72. The firm has a market capitalization of $34.74 billion, a P/E ratio of 12.88, a P/E/G ratio of 3.39 and a beta of 0.44. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $6.02 billion. During the same period last year, the firm earned $0.69 earnings per share. The company's revenue for the quarter was down 6.4% compared to the same quarter last year. Analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.50%. Kraft Heinz's dividend payout ratio (DPR) is presently 70.80%.

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.