Homestead Advisers Corp Acquires 34,200 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Homestead Advisers Corp raised its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 899,800 shares of the company’s stock after purchasing an additional 34,200 shares during the period. Homestead Advisers Corp’s holdings in Kraft Heinz were worth $27,633,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. AssuredPartners Investment Advisors LLC purchased a new stake in shares of Kraft Heinz during the 4th quarter worth $231,000. NEOS Investment Management LLC lifted its position in shares of Kraft Heinz by 24.3% during the fourth quarter. NEOS Investment Management LLC now owns 133,577 shares of the company’s stock valued at $4,102,000 after buying an additional 26,075 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Kraft Heinz by 26.1% in the 4th quarter. UniSuper Management Pty Ltd now owns 91,194 shares of the company’s stock valued at $2,801,000 after buying an additional 18,902 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Kraft Heinz by 6.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,510,291 shares of the company’s stock worth $46,230,000 after buying an additional 97,509 shares during the last quarter. Finally, Korea Investment CORP raised its stake in shares of Kraft Heinz by 0.6% during the 4th quarter. Korea Investment CORP now owns 724,741 shares of the company’s stock worth $22,257,000 after acquiring an additional 4,087 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. UBS Group lowered their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays dropped their target price on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. TD Cowen decreased their price target on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered their price target on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.73.

Kraft Heinz Stock Up 2.0 %

Kraft Heinz stock opened at $29.69 on Thursday. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week high of $38.96. The firm has a market cap of $35.48 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The business’s 50-day moving average price is $29.95 and its 200 day moving average price is $31.79. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating 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%. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.39%. Kraft Heinz’s dividend payout ratio is presently 70.80%.

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.