The Kraft Heinz Company (NASDAQ:KHC) Shares Acquired by Empower Advisory Group LLC

Empower Advisory Group LLC lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,037,187 shares of the company’s stock after purchasing an additional 6,771 shares during the period. Empower Advisory Group LLC’s holdings in Kraft Heinz were worth $62,562,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KHC. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Kraft Heinz during the third quarter worth about $411,304,000. State Street Corp boosted its stake in shares of Kraft Heinz by 16.7% during the 3rd 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 last quarter. Geode Capital Management LLC grew its position in shares of Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after buying an additional 1,944,019 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after buying an additional 1,238,200 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Kraft Heinz by 1,139.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company’s stock valued at $39,112,000 after acquiring an additional 1,170,814 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $28.92 on Tuesday. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The firm has a market capitalization of $34.97 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 3.74 and a beta of 0.47. The business has a 50 day simple moving average of $29.90 and a 200 day simple moving average of $32.72.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. On average, equities research analysts anticipate that The Kraft Heinz Company will post 3 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid 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 dividend yield of 5.53%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KHC. Piper Sandler dropped their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Mizuho cut Kraft Heinz from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $38.00 to $31.00 in a research note on Monday, February 10th. Wells Fargo & Company decreased their target price on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Citigroup downgraded Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their price target for the company from $34.00 to $28.00 in a report on Thursday, February 13th. Finally, UBS Group reduced their price objective on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat, Kraft Heinz presently has an average rating of “Hold” and a consensus target price of $30.86.

Kraft Heinz 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.