Foundations Investment Advisors LLC boosted its holdings in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 18.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,863 shares of the company’s stock after acquiring an additional 1,830 shares during the period. Foundations Investment Advisors LLC’s holdings in Kraft Heinz were worth $459,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Kraft Heinz by 1,835.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock valued at $794,964,000 after purchasing an additional 18,518,584 shares during the last quarter. Capital World Investors lifted its holdings in shares of Kraft Heinz by 96.5% during the 1st quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock worth $524,360,000 after acquiring an additional 6,537,000 shares during the period. Norges Bank purchased a new stake in Kraft Heinz in the fourth quarter valued at approximately $252,224,000. Morgan Stanley increased its position in Kraft Heinz by 18.9% during the fourth quarter. Morgan Stanley now owns 10,795,916 shares of the company’s stock worth $439,502,000 after purchasing an additional 1,715,701 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Kraft Heinz by 2.7% during the first quarter. Vanguard Group Inc. now owns 57,382,888 shares of the company’s stock worth $2,260,312,000 after purchasing an additional 1,491,398 shares during the period. 72.13% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently commented on KHC shares. Bank of America upped their price objective on Kraft Heinz from $48.00 to $50.00 in a report on Thursday, May 4th. Morgan Stanley cut their price objective on Kraft Heinz from $44.00 to $39.00 in a report on Wednesday, June 14th. The Goldman Sachs Group boosted their target price on Kraft Heinz from $45.00 to $48.00 in a report on Wednesday, May 3rd. StockNews.com lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Stifel Nicolaus boosted their price objective on shares of Kraft Heinz from $44.00 to $46.00 in a research note on Thursday, May 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and a consensus target price of $43.23.
Kraft Heinz Stock Performance
Kraft Heinz (NASDAQ:KHC – Get Free Report) last released its quarterly earnings results on Wednesday, May 3rd. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.60 by $0.08. Kraft Heinz had a return on equity of 7.26% and a net margin of 9.00%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.39 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that The Kraft Heinz Company will post 2.87 earnings per share for the current fiscal year.
Kraft Heinz Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Tuesday, June 6th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, June 5th. This represents a $1.60 annualized dividend and a yield of 4.49%. Kraft Heinz’s dividend payout ratio is presently 81.63%.
Insider Buying and Selling at Kraft Heinz
In other Kraft Heinz news, CAO Lande Rashida La sold 25,000 shares of the firm’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $41.00, for a total transaction of $1,025,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 234,084 shares of the company’s stock, valued at approximately $9,597,444. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.
Kraft Heinz Profile
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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