Private Advisor Group LLC Raises Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Private Advisor Group LLC increased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 5.4% in the fourth quarter, Holdings Channel reports. The firm owned 67,612 shares of the company’s stock after acquiring an additional 3,470 shares during the period. Private Advisor Group LLC’s holdings in Kraft Heinz were worth $2,076,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in KHC. Good Life Advisors LLC raised its stake in shares of Kraft Heinz by 5.4% during the fourth quarter. Good Life Advisors LLC now owns 9,715 shares of the company’s stock valued at $298,000 after purchasing an additional 499 shares during the period. Financial Management Network Inc. acquired a new stake in Kraft Heinz during the 4th quarter valued at $295,000. Hara Capital LLC increased its stake in Kraft Heinz by 61.9% during the 4th quarter. Hara Capital LLC now owns 1,700 shares of the company’s stock worth $52,000 after buying an additional 650 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Kraft Heinz in the 4th quarter worth $140,000. Finally, Kornitzer Capital Management Inc. KS boosted its position in Kraft Heinz by 14.5% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 333,622 shares of the company’s stock valued at $10,246,000 after buying an additional 42,287 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KHC has been the topic of several recent analyst reports. Barclays cut their price target 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. Citigroup lowered Kraft Heinz from a “buy” rating to a “neutral” rating and cut their target price for the company from $34.00 to $28.00 in a research report on Thursday, February 13th. StockNews.com downgraded shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Friday, February 14th. The Goldman Sachs Group cut their price target on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a report on Thursday, February 13th. Finally, Evercore ISI reissued an “in-line” rating and set a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.86.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $31.73 on Wednesday. The company has a market cap of $37.92 billion, a PE ratio of 14.04, a P/E/G ratio of 3.39 and a beta of 0.47. 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 $29.75 and a 200 day simple moving average of $32.47. 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) last posted its 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, sell-side analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio is presently 70.80%.

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.