Principal Financial Group Inc. Increases Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Principal Financial Group Inc. increased its position in The Kraft Heinz Company (NASDAQ:KHCGet Rating) by 2.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 834,264 shares of the company’s stock after buying an additional 23,260 shares during the quarter. Principal Financial Group Inc.’s holdings in Kraft Heinz were worth $29,950,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in KHC. Cooke & Bieler LP bought a new position in Kraft Heinz during the 4th quarter valued at $43,504,000. AlphaCrest Capital Management LLC boosted its stake in Kraft Heinz by 439.9% during the 4th quarter. AlphaCrest Capital Management LLC now owns 62,416 shares of the company’s stock valued at $2,241,000 after acquiring an additional 50,855 shares during the last quarter. Element Capital Management LLC bought a new position in Kraft Heinz during the 4th quarter valued at $18,290,000. Alps Advisors Inc. boosted its stake in Kraft Heinz by 7.5% during the 4th quarter. Alps Advisors Inc. now owns 683,790 shares of the company’s stock valued at $24,548,000 after acquiring an additional 47,653 shares during the last quarter. Finally, UMB Bank N A MO bought a new position in Kraft Heinz during the 4th quarter valued at $1,472,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

A number of research firms have commented on KHC. Credit Suisse Group increased their price objective on shares of Kraft Heinz from $36.00 to $38.00 and gave the company an “underperform” rating in a research note on Wednesday, February 23rd. UBS Group started coverage on shares of Kraft Heinz in a report on Wednesday, March 30th. They set a “neutral” rating and a $40.00 target price on the stock. BMO Capital Markets increased their target price on shares of Kraft Heinz from $41.00 to $46.00 and gave the stock a “hold” rating in a report on Thursday, April 28th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kraft Heinz from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, February 23rd. Finally, StockNews.com started coverage on shares of Kraft Heinz in a report on Thursday, March 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.13.

KHC stock opened at $44.29 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. The Kraft Heinz Company has a fifty-two week low of $32.78 and a fifty-two week high of $44.95. The firm’s 50-day simple moving average is $40.79 and its 200 day simple moving average is $37.89. The stock has a market cap of $54.21 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 3.23 and a beta of 0.84.

Kraft Heinz (NASDAQ:KHCGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.07. Kraft Heinz had a net margin of 4.77% and a return on equity of 6.95%. The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the company earned $0.72 EPS. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. Equities analysts forecast that The Kraft Heinz Company will post 2.69 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, May 27th will be issued a $0.40 dividend. The ex-dividend date is Thursday, May 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.61%. Kraft Heinz’s dividend payout ratio (DPR) is presently 161.62%.

Kraft Heinz Profile (Get Rating)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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