GM Advisory Group LLC Raises Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

GM Advisory Group LLC boosted its stake in The Kraft Heinz Company (NASDAQ:KHC) by 18.4% in the fourth quarter, HoldingsChannel reports. The firm owned 16,814 shares of the company’s stock after acquiring an additional 2,609 shares during the period. GM Advisory Group LLC’s holdings in Kraft Heinz were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in KHC. State Street Corp grew its position 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 buying an additional 6,366,732 shares during the period. Geode Capital Management LLC boosted its stake in shares of Kraft Heinz by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after acquiring an additional 1,944,019 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Kraft Heinz during the 3rd quarter valued at $411,304,000. Nordea Investment Management AB increased its stake in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after purchasing an additional 1,238,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Kraft Heinz by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,601,292 shares of the company’s stock worth $172,016,000 after purchasing an additional 293,694 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $29.89 on Thursday. The stock has a market capitalization of $35.72 billion, a PE ratio of 13.23, a P/E/G ratio of 3.39 and a beta of 0.40. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96. The business has a 50 day simple moving average of $29.89 and a two-hundred day simple moving average of $32.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. On average, research analysts predict that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.35%. Kraft Heinz’s dividend payout ratio is currently 70.80%.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price target on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. The Goldman Sachs Group reduced their target price on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a report on Thursday, February 13th. Barclays lowered their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Bank of America cut shares of Kraft Heinz from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $36.00 to $30.00 in a research note on Thursday, February 13th. Finally, StockNews.com upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.