Hourglass Capital LLC Raises Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Hourglass Capital LLC raised its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.0% during the 4th quarter, Holdings Channel reports. The firm owned 155,590 shares of the company’s stock after buying an additional 3,040 shares during the quarter. Hourglass Capital LLC’s holdings in Kraft Heinz were worth $4,778,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of KHC. Allworth Financial LP raised its holdings in shares of Kraft Heinz by 67.3% during the fourth quarter. Allworth Financial LP now owns 22,719 shares of the company’s stock worth $660,000 after purchasing an additional 9,139 shares during the last quarter. Manchester Capital Management LLC raised its stake in shares of Kraft Heinz by 64.2% during the 4th quarter. Manchester Capital Management LLC now owns 2,383 shares of the company’s stock valued at $73,000 after buying an additional 932 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Kraft Heinz by 6.5% in the 4th quarter. Rhumbline Advisers now owns 1,973,946 shares of the company’s stock valued at $60,620,000 after buying an additional 121,175 shares during the period. New Mexico Educational Retirement Board boosted its stake in shares of Kraft Heinz by 9.1% in the fourth quarter. New Mexico Educational Retirement Board now owns 42,075 shares of the company’s stock worth $1,292,000 after buying an additional 3,500 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in Kraft Heinz by 137.7% during the fourth quarter. AustralianSuper Pty Ltd now owns 506,587 shares of the company’s stock worth $15,557,000 after acquiring an additional 293,459 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Trading Down 1.1 %

Shares of KHC opened at $28.92 on Friday. The firm’s fifty day moving average is $29.90 and its two-hundred day moving average is $32.74. The stock has a market cap of $34.97 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 3.74 and a beta of 0.47. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. Research analysts forecast that The Kraft Heinz Company will post 3 earnings per share for the current fiscal 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 given 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 yield of 5.53%. Kraft Heinz’s payout ratio is 144.14%.

Analyst Ratings Changes

A number of brokerages have issued reports on KHC. Jefferies Financial Group decreased their price target on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. The Goldman Sachs Group lowered their price target on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a report on Thursday. UBS Group cut their price objective on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company lowered their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Evercore ISI restated an “in-line” rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.86.

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.