Bank of Stockton Acquires 3,235 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Bank of Stockton grew its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 52.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,346 shares of the company’s stock after purchasing an additional 3,235 shares during the period. Bank of Stockton’s holdings in Kraft Heinz were worth $287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of KHC. State Street Corp grew its stake in Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after acquiring an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC grew its stake in Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after acquiring an additional 1,944,019 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Kraft Heinz during the third quarter valued at approximately $411,304,000. Nordea Investment Management AB grew its stake in Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after acquiring an additional 1,238,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Kraft Heinz by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after acquiring an additional 545,504 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock opened at $30.16 on Friday. The Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $38.96. The stock has a market capitalization of $36.03 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 3.34 and a beta of 0.47. The company has a fifty day moving average of $29.74 and a 200-day moving average of $32.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Equities research analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.31%. Kraft Heinz’s dividend payout ratio is currently 70.80%.

Analysts Set New Price Targets

KHC has been the subject of several recent analyst reports. Piper Sandler reduced their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Bank of America cut shares of Kraft Heinz from a “buy” rating to an “underperform” rating and cut their price target for the stock from $36.00 to $30.00 in a research note on Thursday, February 13th. Citigroup cut shares of Kraft Heinz from a “buy” rating to a “neutral” rating and cut their price target for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. Barclays cut their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Finally, Evercore ISI reissued an “in-line” rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.86.

Kraft Heinz Company 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.