KLP Kapitalforvaltning AS purchased a new position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 317,659 shares of the company's stock, valued at approximately $9,755,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sawyer & Company Inc acquired a new position in shares of Kraft Heinz in the fourth quarter valued at approximately $25,000. Generali Investments Management Co LLC acquired a new position in shares of Kraft Heinz in the fourth quarter worth $26,000. Larson Financial Group LLC increased its position in shares of Kraft Heinz by 191.0% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company's stock worth $34,000 after acquiring an additional 636 shares during the period. R Squared Ltd acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at $34,000. Finally, OFI Invest Asset Management purchased a new position in Kraft Heinz in the fourth quarter valued at $36,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
KHC has been the topic of several recent research reports. Evercore ISI restated an "in-line" rating and set a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. TD Cowen cut their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus decreased their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. Morgan Stanley initiated coverage on shares of Kraft Heinz in a research report on Monday. They issued an "underweight" rating and a $29.00 price objective on the stock. Finally, Bank of America cut shares of Kraft Heinz from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $36.00 to $30.00 in a research report on Thursday, February 13th. Three analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $30.73.
View Our Latest Stock Analysis on KHC
Kraft Heinz Price Performance
Shares of KHC opened at $29.12 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $38.96. The firm has a 50-day simple moving average of $29.92 and a 200-day simple moving average of $31.85. The company has a market capitalization of $34.80 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share 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%. On average, equities research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.
Kraft Heinz Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.49%. Kraft Heinz's dividend payout ratio is currently 70.80%.
Kraft Heinz Company Profile
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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.
Further Reading
Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Kraft Heinz Company (NASDAQ:KHC - Free Report).
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