Perritt Capital Management Inc Acquires Shares of 15,735 The Kraft Heinz Company (NASDAQ:KHC)

Perritt Capital Management Inc bought a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 15,735 shares of the company’s stock, valued at approximately $483,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sawyer & Company Inc purchased a new stake in Kraft Heinz during the 4th quarter worth $25,000. Generali Investments Management Co LLC purchased a new stake in shares of Kraft Heinz during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Kraft Heinz in the fourth quarter worth about $29,000. R Squared Ltd purchased a new position in Kraft Heinz in the fourth quarter valued at about $34,000. Finally, OFI Invest Asset Management acquired a new stake in Kraft Heinz during the 4th quarter valued at approximately $36,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KHC has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their target price on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. The Goldman Sachs Group cut their price target on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a report on Thursday, February 13th. UBS Group decreased their price objective on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Piper Sandler cut their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Citigroup downgraded Kraft Heinz from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $30.73.

Kraft Heinz Trading Down 0.3 %

Shares of NASDAQ KHC opened at $30.34 on Wednesday. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The company has a market cap of $36.26 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The stock’s 50 day simple moving average is $30.03 and its 200 day simple moving average is $31.62.

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

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date was Friday, March 7th. Kraft Heinz’s payout ratio is 70.80%.

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.