Fort Point Capital Partners LLC Takes Position in The Kraft Heinz Company (NASDAQ:KHC)

Fort Point Capital Partners LLC bought a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC – Get Rating) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 5,704 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its holdings in Kraft Heinz by 0.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 45,045 shares of the company’s stock valued at $1,617,000 after purchasing an additional 338 shares during the last quarter. Cetera Advisors LLC raised its stake in shares of Kraft Heinz by 70.2% in the third quarter. Cetera Advisors LLC now owns 52,692 shares of the company’s stock worth $1,940,000 after acquiring an additional 21,729 shares during the last quarter. Wealthfront Advisers LLC raised its stake in shares of Kraft Heinz by 9.5% in the fourth quarter. Wealthfront Advisers LLC now owns 140,961 shares of the company’s stock worth $5,061,000 after acquiring an additional 12,184 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Kraft Heinz by 133.4% in the third quarter. Wellington Management Group LLP now owns 57,250 shares of the company’s stock worth $2,108,000 after acquiring an additional 32,717 shares during the last quarter. Finally, Cetera Advisor Networks LLC raised its stake in shares of Kraft Heinz by 5.6% during the third quarter. Cetera Advisor Networks LLC now owns 104,067 shares of the company’s stock worth $3,832,000 after buying an additional 5,492 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

NASDAQ KHC traded up $0.29 during trading on Wednesday, reaching $39.90. 178,560 shares of the stock traded hands, compared to its average volume of 7,417,286. The firm has a market cap of $48.84 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 2.86 and a beta of 0.84. The stock’s 50-day moving average price is $41.13 and its 200 day moving average price is $38.06. 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 $44.87.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, May 27th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Thursday, May 26th. Kraft Heinz’s dividend payout ratio (DPR) is presently 161.62%.

A number of equities research analysts recently weighed in on the stock. Credit Suisse Group boosted their price target on shares of Kraft Heinz from $36.00 to $38.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kraft Heinz from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, February 23rd. StockNews.com assumed coverage on shares of Kraft Heinz in a research note on Thursday, March 31st. They set a “hold” rating for the company. UBS Group began coverage on shares of Kraft Heinz in a research note on Wednesday, March 30th. They set a “neutral” rating and a $40.00 price target for the company. Finally, BMO Capital Markets boosted their price objective on shares of Kraft Heinz from $41.00 to $46.00 and gave the company a “hold” rating in a report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.13.

In other news, CEO Miguel Patricio sold 259,958 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $44.28, for a total value of $11,510,940.24. Following the completion of the transaction, the chief executive officer now owns 1,897,433 shares in the company, valued at $84,018,333.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

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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