HBK Sorce Advisory LLC Increases Position in The Kraft Heinz Company (NASDAQ:KHC)

HBK Sorce Advisory LLC raised its position in The Kraft Heinz Company (NASDAQ:KHC) by 18.8% during the fourth quarter, Holdings Channel reports. The firm owned 7,937 shares of the company’s stock after buying an additional 1,254 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Kraft Heinz were worth $244,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in Kraft Heinz by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after purchasing an additional 545,504 shares during the period. Banque Cantonale Vaudoise increased its position in shares of Kraft Heinz by 52.5% during the third quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock worth $5,988,000 after acquiring an additional 58,665 shares during the period. Brookstone Capital Management increased its position in shares of Kraft Heinz by 229.8% during the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company’s stock worth $10,530,000 after acquiring an additional 238,913 shares during the period. Toronto Dominion Bank increased its position in shares of Kraft Heinz by 12.6% during the third quarter. Toronto Dominion Bank now owns 487,938 shares of the company’s stock worth $17,132,000 after acquiring an additional 54,656 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after acquiring an additional 1,238,200 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on KHC shares. Jefferies Financial Group cut their price objective on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Mizuho lowered Kraft Heinz from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $38.00 to $31.00 in a report on Monday, February 10th. The Goldman Sachs Group dropped their target price on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler dropped their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.86.

Kraft Heinz Price Performance

Shares of KHC opened at $30.23 on Friday. The Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $38.96. The company has a market capitalization of $36.12 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The firm has a 50-day simple moving average of $29.86 and a 200-day simple moving average of $32.12. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last announced its 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, equities research 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.29%. Kraft Heinz’s dividend payout ratio (DPR) 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.