Pinney & Scofield Inc. Takes $38,000 Position in The Kraft Heinz Company (NASDAQ:KHC)

Pinney & Scofield Inc. acquired a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,249 shares of the company’s stock, valued at approximately $38,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. New York Life Investment Management LLC boosted its holdings in shares of Kraft Heinz by 0.3% during the fourth quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock worth $3,995,000 after purchasing an additional 361 shares during the period. Checchi Capital Advisers LLC boosted its holdings in shares of Kraft Heinz by 5.3% during the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock worth $223,000 after purchasing an additional 366 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Kraft Heinz by 1.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company’s stock worth $1,097,000 after purchasing an additional 370 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its holdings in shares of Kraft Heinz by 4.0% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,009 shares of the company’s stock worth $307,000 after purchasing an additional 386 shares during the period. Finally, Rehmann Capital Advisory Group boosted its holdings in shares of Kraft Heinz by 3.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 13,902 shares of the company’s stock worth $427,000 after purchasing an additional 408 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on KHC shares. JPMorgan Chase & Co. decreased their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Citigroup restated a “sell” rating and set a $27.00 price target (down from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. DZ Bank cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Friday, May 9th. Piper Sandler cut their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays cut their price objective on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Four investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.65.

Kraft Heinz Trading Down 0.8%

NASDAQ:KHC opened at $26.30 on Friday. The Kraft Heinz Company has a 12 month low of $26.01 and a 12 month high of $36.53. The firm has a market cap of $31.13 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 3.39 and a beta of 0.30. 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’s 50 day moving average is $28.89 and its 200-day moving average is $29.97.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. Equities analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s dividend payout ratio is 73.06%.

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.