Wallace Capital Management Inc. Grows Position in The Kraft Heinz Company (NASDAQ:KHC)

Wallace Capital Management Inc. boosted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 16.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,224 shares of the company’s stock after acquiring an additional 4,196 shares during the period. Wallace Capital Management Inc.’s holdings in Kraft Heinz were worth $928,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Woodline Partners LP purchased a new position in shares of Kraft Heinz in the 4th quarter valued at about $1,628,000. Vident Advisory LLC boosted its holdings in Kraft Heinz by 1.1% in the fourth quarter. Vident Advisory LLC now owns 52,195 shares of the company’s stock valued at $1,603,000 after purchasing an additional 554 shares in the last quarter. Twinbeech Capital LP purchased a new position in Kraft Heinz in the fourth quarter valued at approximately $7,774,000. Two Sigma Advisers LP raised its holdings in Kraft Heinz by 545.6% during the fourth quarter. Two Sigma Advisers LP now owns 175,600 shares of the company’s stock worth $5,393,000 after purchasing an additional 148,400 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Kraft Heinz by 12.6% during the 4th quarter. Tidal Investments LLC now owns 95,316 shares of the company’s stock worth $2,927,000 after buying an additional 10,641 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

Shares of KHC opened at $27.88 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average is $29.17 and its two-hundred day moving average is $30.11. The Kraft Heinz Company has a twelve month low of $27.14 and a twelve month high of $36.53. The firm has a market capitalization of $33.00 billion, a PE ratio of 12.34, a P/E/G ratio of 3.39 and a beta of 0.30.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly 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 for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. Research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed 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 yield of 5.74%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s dividend payout ratio is currently 73.06%.

Analysts Set New Price Targets

A number of research firms recently commented on KHC. Barclays dropped their target price on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Cfra Research cut Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Piper Sandler reduced their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Morgan Stanley assumed coverage on Kraft Heinz in a research note on Monday, March 24th. They set an “underweight” rating and a $29.00 price target on the stock. Finally, Stifel Nicolaus reduced their price objective on Kraft Heinz from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Four analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and a consensus price target of $30.65.

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.