Nuveen Asset Management LLC Grows Stake in The Kraft Heinz Company (NASDAQ:KHC)

Nuveen Asset Management LLC raised its position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,348,957 shares of the company's stock after purchasing an additional 69,895 shares during the quarter. Nuveen Asset Management LLC owned 0.44% of Kraft Heinz worth $164,266,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. New York Life Investment Management LLC lifted 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 buying an additional 361 shares during the period. Checchi Capital Advisers LLC raised its position in Kraft Heinz by 5.3% in the 4th quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company's stock valued at $223,000 after buying an additional 366 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in 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 last quarter. Winch Advisory Services LLC lifted its holdings in Kraft Heinz by 20.1% during the fourth quarter. Winch Advisory Services LLC now owns 2,274 shares of the company's stock worth $70,000 after acquiring an additional 380 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in Kraft Heinz by 4.0% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,009 shares of the company's stock valued at $307,000 after purchasing an additional 386 shares during the period. Hedge funds and other institutional investors own 78.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on KHC shares. JPMorgan Chase & Co. dropped their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Morgan Stanley assumed coverage on Kraft Heinz in a research report on Monday, March 24th. They set an "underweight" rating and a $29.00 target price for the company. The Goldman Sachs Group cut their target price 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. Sanford C. Bernstein lowered shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $34.00 to $31.00 in a report on Tuesday, April 22nd. Finally, Piper Sandler cut their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Four research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $30.65.

Kraft Heinz Stock Performance

NASDAQ KHC traded up $0.14 during trading hours on Monday, hitting $27.88. The company's stock had a trading volume of 9,661,065 shares, compared to its average volume of 9,252,655. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market cap of $33.00 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30. The company's 50 day simple moving average is $29.22 and its two-hundred day simple moving average is $30.15. The Kraft Heinz Company has a 12 month low of $27.14 and a 12 month high of $36.53.

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, beating analysts' consensus estimates of $0.60 by $0.02. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The firm's revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, sell-side analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz's payout ratio is 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.