The Kraft Heinz Company (NASDAQ:KHC) Shares Bought by SPC Financial Inc.

SPC Financial Inc. raised its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 6.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,714 shares of the company’s stock after acquiring an additional 879 shares during the quarter. SPC Financial Inc.’s holdings in Kraft Heinz were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp raised its holdings in Kraft Heinz by 16.7% during the 3rd 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 during the period. Geode Capital Management LLC raised its holdings in Kraft Heinz by 11.3% during the 3rd 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 period. Hotchkis & Wiley Capital Management LLC acquired a new stake in Kraft Heinz during the 3rd quarter worth about $411,304,000. Nordea Investment Management AB raised its holdings in 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, Charles Schwab Investment Management Inc. raised its holdings in Kraft Heinz by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,601,292 shares of the company’s stock worth $172,016,000 after buying an additional 293,694 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on KHC. Bank of America downgraded Kraft Heinz from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $36.00 to $30.00 in a report on Thursday, February 13th. JPMorgan Chase & Co. cut their price objective on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company cut their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Piper Sandler dropped their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Citigroup downgraded Kraft Heinz from a “buy” rating to a “neutral” rating and dropped their target price for the company from $34.00 to $28.00 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’s stock. According to MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average target price of $30.86.

Kraft Heinz Trading Up 0.0 %

Shares of NASDAQ KHC opened at $30.99 on Thursday. The stock has a market cap of $37.03 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 3.39 and a beta of 0.40. The business has a 50 day simple moving average of $29.80 and a 200 day simple moving average of $32.34. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week high of $38.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 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%. On average, research analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 dividend on an annualized basis and a yield of 5.16%. Kraft Heinz’s payout ratio is currently 70.80%.

About Kraft Heinz

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.