The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Wealth Alliance

Wealth Alliance trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 7.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,630 shares of the company’s stock after selling 534 shares during the period. Wealth Alliance’s holdings in Kraft Heinz were worth $245,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Kraft Heinz by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 70,215,597 shares of the company’s stock valued at $2,362,053,000 after purchasing an additional 417,115 shares during the period. State Street Corp increased its holdings in shares of Kraft Heinz by 4.4% in the 1st quarter. State Street Corp now owns 33,344,178 shares of the company’s stock valued at $1,313,427,000 after purchasing an additional 1,397,795 shares during the period. Invesco Ltd. increased its holdings in shares of Kraft Heinz by 10.7% in the 3rd quarter. Invesco Ltd. now owns 24,601,098 shares of the company’s stock valued at $827,581,000 after purchasing an additional 2,369,080 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Kraft Heinz by 1,835.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock worth $794,964,000 after buying an additional 18,518,584 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Kraft Heinz by 1.1% in the first quarter. Geode Capital Management LLC now owns 15,062,665 shares of the company’s stock worth $581,169,000 after buying an additional 161,170 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America increased their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday. Citigroup started coverage on Kraft Heinz in a research report on Thursday, February 1st. They set a “buy” rating and a $43.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their target price on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company decreased their target price on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.57.

Kraft Heinz Stock Up 0.6 %

KHC opened at $37.11 on Friday. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $41.47. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $45.11 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 2.92 and a beta of 0.67. The business has a 50 day moving average of $35.87 and a 200-day moving average of $35.36.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.99 billion. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. Kraft Heinz’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a $0.40 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.31%. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.26%.

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.