DoubleLine ETF Adviser LP Has $1.54 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

DoubleLine ETF Adviser LP grew its stake in The Kraft Heinz Company (NASDAQ:KHC) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,242 shares of the company’s stock after acquiring an additional 1,263 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Kraft Heinz were worth $1,543,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Widmann Financial Services Inc. raised its stake in Kraft Heinz by 9.2% during the 4th quarter. Widmann Financial Services Inc. now owns 7,725 shares of the company’s stock worth $237,000 after buying an additional 650 shares during the period. Parvin Asset Management LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter worth about $255,000. Rehmann Capital Advisory Group lifted its holdings in shares of Kraft Heinz by 3.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 13,902 shares of the company’s stock valued at $427,000 after purchasing an additional 408 shares in the last quarter. Northern Trust Corp grew its position in shares of Kraft Heinz by 12.6% in the 4th quarter. Northern Trust Corp now owns 9,289,691 shares of the company’s stock valued at $285,286,000 after purchasing an additional 1,039,885 shares during the period. Finally, III Capital Management increased its stake in Kraft Heinz by 100.0% during the 4th quarter. III Capital Management now owns 41,830 shares of the company’s stock worth $1,285,000 after purchasing an additional 20,915 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KHC shares. UBS Group reduced their price target 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. Piper Sandler reduced 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 note on Thursday, February 13th. Jefferies Financial Group dropped their price target on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley assumed coverage on Kraft Heinz in a research report on Monday, March 24th. They set an “underweight” rating and a $29.00 price objective for the company. Finally, Cfra Research lowered Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $30.63.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $28.50 on Friday. The firm’s fifty day moving average price is $29.92 and its two-hundred day moving average price is $30.75. The Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $37.07. The firm has a market capitalization of $34.01 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the business posted $0.69 EPS. Kraft Heinz’s revenue was down 6.4% on a year-over-year basis. As a group, research analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s payout ratio is presently 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.