Allstate Corp Makes New $824,000 Investment in The Kraft Heinz Company (NASDAQ:KHC)

Allstate Corp bought a new stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,843 shares of the company's stock, valued at approximately $824,000.

Other large investors have also modified their holdings of the company. New York Life Investment Management LLC lifted its position 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 period. Checchi Capital Advisers LLC boosted its stake in shares of Kraft Heinz by 5.3% in the fourth 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 in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew 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 acquiring an additional 370 shares during the period. Winch Advisory Services LLC raised its position in Kraft Heinz by 20.1% in 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 in the last quarter. Finally, Cohen Investment Advisors LLC boosted its position in shares of Kraft Heinz by 5.0% during the 4th quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company's stock worth $315,000 after purchasing an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a "hold" rating for the company in a report on Thursday, February 13th. StockNews.com raised shares of Kraft Heinz from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Bank of America lowered Kraft Heinz from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $36.00 to $30.00 in a research note on Thursday, February 13th. Piper Sandler dropped their price objective on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Finally, 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. Three analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. Based on data from MarketBeat, Kraft Heinz has an average rating of "Hold" and an average price target of $30.73.

Kraft Heinz Trading Up 2.3 %

Shares of Kraft Heinz stock traded up $0.68 during trading hours on Thursday, reaching $30.81. 11,917,584 shares of the company's stock were exchanged, compared to its average volume of 8,797,883. The firm has a market capitalization of $36.77 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $38.96. The company has a fifty day moving average of $30.05 and a 200-day moving average of $31.60.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. Sell-side analysts forecast 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 was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.19%. The ex-dividend date was Friday, March 7th. Kraft Heinz's dividend payout ratio (DPR) is 70.80%.

Kraft Heinz Company 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.