LGT Group Foundation Increases Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

LGT Group Foundation increased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 61,501 shares of the company’s stock after purchasing an additional 389 shares during the quarter. LGT Group Foundation’s holdings in Kraft Heinz were worth $2,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in Kraft Heinz by 10.7% during the third 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. AQR Capital Management LLC increased its holdings in Kraft Heinz by 86.0% in the 3rd quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock worth $155,671,000 after acquiring an additional 2,140,153 shares during the last quarter. LSV Asset Management raised its stake in Kraft Heinz by 27.1% in the 3rd quarter. LSV Asset Management now owns 9,263,400 shares of the company’s stock valued at $311,621,000 after acquiring an additional 1,977,571 shares during the period. Nordea Investment Management AB increased its stake in shares of Kraft Heinz by 3,167.3% in the third quarter. Nordea Investment Management AB now owns 1,869,778 shares of the company’s stock worth $63,198,000 after purchasing an additional 1,812,551 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Kraft Heinz by 7.2% in the third quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock valued at $423,216,000 after purchasing an additional 850,326 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

KHC has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Bank of America raised 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, April 15th. Finally, Citigroup assumed coverage on Kraft Heinz in a research report on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $40.00.

Kraft Heinz Trading Down 1.0 %

Shares of KHC stock opened at $36.35 on Friday. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $41.44. The firm has a fifty day moving average price of $36.34 and a 200-day moving average price of $35.75. The company has a market cap of $44.14 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.92 and a beta of 0.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.54.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. As a group, equities analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

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.