Virtu Financial LLC purchased a new position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 199,754 shares of the company's stock, valued at approximately $6,134,000.
A number of other hedge funds also recently bought and sold shares of KHC. Mutual of America Capital Management LLC raised its position in shares of Kraft Heinz by 9.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 108,792 shares of the company's stock worth $3,820,000 after purchasing an additional 9,157 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Kraft Heinz by 23.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 52,628 shares of the company's stock worth $1,848,000 after purchasing an additional 9,833 shares during the last quarter. Pathstone Holdings LLC boosted its stake in Kraft Heinz by 34.4% during the 3rd quarter. Pathstone Holdings LLC now owns 96,151 shares of the company's stock worth $3,376,000 after purchasing an additional 24,606 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Kraft Heinz in the third quarter valued at about $1,844,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Kraft Heinz by 7.2% in the third quarter. PNC Financial Services Group Inc. now owns 200,937 shares of the company's stock worth $7,055,000 after buying an additional 13,452 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. The Goldman Sachs Group dropped their price objective on Kraft Heinz from $32.00 to $28.00 and set a "sell" rating for the company in a research note on Thursday, February 13th. Bank of America lowered Kraft Heinz from a "buy" rating to an "underperform" rating and decreased their target price for the stock from $36.00 to $30.00 in a research note on Thursday, February 13th. TD Cowen dropped their target price on Kraft Heinz from $34.00 to $32.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Finally, StockNews.com upgraded shares of Kraft Heinz from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $30.73.
Get Our Latest Stock Analysis on Kraft Heinz
Kraft Heinz Price Performance
Kraft Heinz stock traded up $0.08 during mid-day trading on Tuesday, hitting $29.20. 2,640,575 shares of the company were exchanged, compared to its average volume of 8,504,662. 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 company has a market capitalization of $34.89 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The business has a fifty day moving average of $29.92 and a 200 day moving average of $31.85. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its earnings results 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 net margin of 10.62% and a return on equity of 7.58%. As a group, sell-side analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current year.
Kraft Heinz Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.48%. The ex-dividend date is Friday, March 7th. Kraft Heinz's payout ratio is presently 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.
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