Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in The Kraft Heinz Company (NASDAQ:KHC) by 14.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,440 shares of the company’s stock after buying an additional 11,425 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Kraft Heinz were worth $3,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Raymond James Trust N.A. increased its position in Kraft Heinz by 11.0% in the fourth quarter. Raymond James Trust N.A. now owns 39,610 shares of the company’s stock worth $1,465,000 after buying an additional 3,916 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in Kraft Heinz in the third quarter worth $5,399,000. Victory Capital Management Inc. increased its position in Kraft Heinz by 16.3% in the third quarter. Victory Capital Management Inc. now owns 1,768,073 shares of the company’s stock worth $59,478,000 after buying an additional 247,896 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Kraft Heinz by 42.5% in the fourth quarter. Cerity Partners LLC now owns 457,923 shares of the company’s stock worth $16,934,000 after acquiring an additional 136,556 shares during the period. Finally, FMR LLC boosted its holdings in shares of Kraft Heinz by 37.9% in the third quarter. FMR LLC now owns 3,029,052 shares of the company’s stock worth $101,897,000 after acquiring an additional 832,653 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

NASDAQ:KHC opened at $38.07 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99. The stock has a fifty day moving average of $35.98 and a 200 day moving average of $35.48. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $41.47. The firm has a market capitalization of $46.28 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 3.01 and a beta of 0.67.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.99 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue was down 7.1% compared to the same quarter last year. On average, research analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Thursday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.26%.

Analysts Set New Price Targets

A number of research firms have recently commented on KHC. Wells Fargo & Company cut their price target on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Bank of America raised their price target on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised their price target on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Citigroup assumed coverage on Kraft Heinz in a report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price target for the company. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $40.57.

Kraft Heinz 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.