Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 126,803 shares of the company's stock, valued at approximately $3,894,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Kraft Heinz by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company's stock worth $186,350,000 after purchasing an additional 545,504 shares during the period. Banque Cantonale Vaudoise increased its stake in shares of Kraft Heinz by 52.5% in the third quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company's stock valued at $5,988,000 after buying an additional 58,665 shares during the period. Brookstone Capital Management raised its stake in shares of Kraft Heinz by 229.8% during the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company's stock valued at $10,530,000 after acquiring an additional 238,913 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Kraft Heinz by 12.6% during the 3rd quarter. Toronto Dominion Bank now owns 487,938 shares of the company's stock worth $17,132,000 after buying an additional 54,656 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company's stock valued at $269,906,000 after acquiring an additional 1,238,200 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.
Kraft Heinz Stock Performance
Kraft Heinz stock traded down $0.18 during trading on Thursday, hitting $29.71. The stock had a trading volume of 13,762,360 shares, compared to its average volume of 8,426,344. 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 stock's 50 day moving average is $29.89 and its two-hundred day moving average is $32.01. The Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $38.96. The stock has a market cap of $35.50 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. As a group, analysts predict that The Kraft Heinz Company will post 2.68 EPS for the current year.
Kraft Heinz Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Friday, March 7th. Kraft Heinz's dividend payout ratio is currently 70.80%.
Analyst Ratings Changes
A number of analysts have commented on the stock. UBS Group cut their price target on shares of Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group decreased their target price on Kraft Heinz from $34.00 to $30.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company dropped their price target on Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Bank of America downgraded shares of Kraft Heinz from a "buy" rating to an "underperform" rating and reduced their price objective for the stock from $36.00 to $30.00 in a research report on Thursday, February 13th. Finally, Citigroup lowered shares of Kraft Heinz from a "buy" rating to a "neutral" rating and cut their target price for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. Based on data from MarketBeat, Kraft Heinz presently has an average rating of "Hold" and a consensus price target of $30.86.
Check Out Our Latest Stock Report on Kraft Heinz
About Kraft Heinz
(
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.
Read More
Before you consider Kraft Heinz, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kraft Heinz wasn't on the list.
While Kraft Heinz currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
