Proficio Capital Partners LLC Takes $2.48 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

Proficio Capital Partners LLC bought a new stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 80,829 shares of the company's stock, valued at approximately $2,482,000.

Several other hedge funds and other institutional investors have also made changes to their positions in KHC. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Kraft Heinz in the third quarter valued at approximately $411,304,000. State Street Corp lifted its position in Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company's stock worth $1,558,898,000 after buying an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 boosted its stake in Kraft Heinz by 16.3% during the fourth 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 last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Kraft Heinz by 1,139.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company's stock worth $39,112,000 after buying an additional 1,170,814 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Kraft Heinz Trading Down 0.6 %

Shares of KHC stock traded down $0.19 on Friday, hitting $29.52. The stock had a trading volume of 25,259,861 shares, compared to its average volume of 8,485,761. 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 firm has a market capitalization of $35.28 billion, a P/E ratio of 13.06, a P/E/G ratio of 3.39 and a beta of 0.40. The Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $38.96. The company's 50 day moving average price is $29.92 and its 200-day moving average price is $31.95.

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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 (EPS) for the quarter, beating 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%. Analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.42%. Kraft Heinz's dividend payout ratio (DPR) is 70.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on KHC shares. The Goldman Sachs Group lowered their price objective on Kraft Heinz from $32.00 to $28.00 and set a "sell" rating on the stock in a research note on Thursday, February 13th. Piper Sandler lowered their price objective on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Barclays lowered their price objective on Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Friday, February 14th. Evercore ISI reissued an "in-line" rating and set a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Finally, StockNews.com raised Kraft Heinz from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $30.86.

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.