Redwood Investment Management LLC Has $1.84 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Redwood Investment Management LLC increased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,901 shares of the company’s stock after buying an additional 3,823 shares during the period. Redwood Investment Management LLC’s holdings in Kraft Heinz were worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Kraft Heinz in the fourth quarter valued at approximately $2,048,000. FLC Capital Advisors raised its stake in Kraft Heinz by 121.0% in the fourth quarter. FLC Capital Advisors now owns 18,653 shares of the company’s stock valued at $573,000 after buying an additional 10,214 shares during the period. SG Americas Securities LLC raised its stake in Kraft Heinz by 511.7% in the fourth quarter. SG Americas Securities LLC now owns 42,706 shares of the company’s stock valued at $1,312,000 after buying an additional 35,725 shares during the period. 1834 Investment Advisors Co. bought a new position in shares of Kraft Heinz during the fourth quarter worth approximately $470,000. Finally, Sound Income Strategies LLC increased its stake in shares of Kraft Heinz by 124.0% during the fourth quarter. Sound Income Strategies LLC now owns 275,675 shares of the company’s stock worth $8,466,000 after purchasing an additional 152,584 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on KHC shares. Mizuho lowered Kraft Heinz from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $38.00 to $31.00 in a research note on Monday, February 10th. Morgan Stanley started coverage on Kraft Heinz in a research note on Monday, March 24th. They set an “underweight” rating and a $29.00 target price on the stock. Citigroup reiterated a “sell” rating and set a $27.00 target price (down previously from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. JPMorgan Chase & Co. lowered their target price on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Cfra Research lowered Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Four research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.65.

Kraft Heinz Trading Up 1.2%

Shares of KHC stock opened at $27.49 on Friday. The stock’s fifty day moving average price is $29.29 and its two-hundred day moving average price is $30.24. The company has a market cap of $32.54 billion, a PE ratio of 12.16, a P/E/G ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a fifty-two week low of $27.14 and a fifty-two week high of $36.53. 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 issued its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. Equities analysts predict that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s dividend payout ratio is presently 73.06%.

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.