Allworth Financial LP Purchases 9,139 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Allworth Financial LP lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 67.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,719 shares of the company's stock after acquiring an additional 9,139 shares during the quarter. Allworth Financial LP's holdings in Kraft Heinz were worth $660,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in KHC. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Kraft Heinz during the 3rd quarter valued at $411,304,000. State Street Corp lifted its stake in Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company's stock valued at $1,558,898,000 after buying an additional 6,366,732 shares during the period. Geode Capital Management LLC boosted its holdings in Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company's stock worth $669,821,000 after buying an additional 1,944,019 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company's stock worth $269,906,000 after buying an additional 1,238,200 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Kraft Heinz by 1,139.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company's stock valued at $39,112,000 after acquiring an additional 1,170,814 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on KHC shares. Citigroup downgraded shares of Kraft Heinz from a "buy" rating to a "neutral" rating and lowered their target price for the company from $34.00 to $28.00 in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. UBS Group reduced their target price on Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. The Goldman Sachs Group lowered their price target on Kraft Heinz from $32.00 to $28.00 and set a "sell" rating for the company in a report on Thursday, February 13th. Finally, Bank of America cut Kraft Heinz from a "buy" rating to an "underperform" rating and cut their price objective for the company from $36.00 to $30.00 in a report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $30.86.

Kraft Heinz Stock Up 3.2 %

Shares of KHC stock traded up $0.97 during trading on Friday, reaching $31.13. The company's stock had a trading volume of 14,695,925 shares, compared to its average volume of 10,055,061. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $38.96. The business has a fifty day moving average price of $29.74 and a 200-day moving average price of $32.59. The company has a market cap of $37.20 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 3.34 and a beta of 0.47. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.14%. 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.