SVB Wealth LLC Purchases 7,986 Shares of The Kraft Heinz Company (NASDAQ:KHC)

SVB Wealth LLC boosted its position in The Kraft Heinz Company (NASDAQ:KHC) by 18.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,373 shares of the company’s stock after acquiring an additional 7,986 shares during the period. SVB Wealth LLC’s holdings in Kraft Heinz were worth $1,937,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $794,964,000 after acquiring an additional 18,518,584 shares during the last quarter. Capital World Investors grew its stake in shares of Kraft Heinz by 96.5% during the first quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock worth $524,360,000 after purchasing an additional 6,537,000 shares during the period. Norges Bank bought a new stake in Kraft Heinz in the fourth quarter valued at about $252,224,000. Invesco Ltd. lifted its stake in Kraft Heinz by 10.7% in the third quarter. Invesco Ltd. now owns 24,601,098 shares of the company’s stock valued at $827,581,000 after buying an additional 2,369,080 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Kraft Heinz by 86.0% during the third quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock worth $155,671,000 after buying an additional 2,140,153 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Trading Up 0.8 %

KHC opened at $36.90 on Thursday. The firm’s fifty day simple moving average is $35.86 and its 200 day simple moving average is $35.34. The stock has a market capitalization of $44.86 billion, a P/E ratio of 15.97, a P/E/G ratio of 2.89 and a beta of 0.67. 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 Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $41.47.

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, 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 company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. Kraft Heinz’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, research analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date was Thursday, March 7th. Kraft Heinz’s dividend payout ratio is presently 69.26%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KHC. Wells Fargo & Company lowered their price target on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, February 15th. Bank of America upped their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday. Finally, Citigroup started coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price target for the company. Seven investment 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.com, the stock has an average rating of “Hold” and an average target price of $40.71.

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.