Steel Grove Capital Advisors LLC Acquires 49,256 Shares of Kraft Heinz Company (NASDAQ:KHC)

Steel Grove Capital Advisors LLC raised its holdings in Kraft Heinz Company (NASDAQ:KHC) by 520.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,713 shares of the company’s stock after acquiring an additional 49,256 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Kraft Heinz were worth $1,787,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Kraft Heinz by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock valued at $2,779,524,000 after acquiring an additional 14,996,486 shares in the last quarter. Norges Bank bought a new position in Kraft Heinz in the fourth quarter valued at about $324,857,000. Southeastern Asset Management Inc. TN acquired a new stake in shares of Kraft Heinz during the fourth quarter valued at about $87,080,000. Fairfax Financial Holdings Ltd. Can grew its holdings in shares of Kraft Heinz by 341.9% during the fourth quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company’s stock worth $101,773,000 after purchasing an additional 2,564,000 shares during the last quarter. Finally, Criteria Caixa S.A.U. acquired a new position in shares of Kraft Heinz in the fourth quarter valued at approximately $73,316,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Price Performance

KHC stock opened at $25.68 on Thursday. Kraft Heinz Company has a 1 year low of $25.53 and a 1 year high of $36.53. The stock has a market capitalization of $30.39 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 3.01 and a beta of 0.27. The company’s 50-day moving average is $27.79 and its 200-day moving average is $29.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.81.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter last year, the firm posted $0.69 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. Equities research analysts expect that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 6.23%. Kraft Heinz’s payout ratio is 73.06%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KHC. Stifel Nicolaus cut their target price on shares of Kraft Heinz from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. The Goldman Sachs Group cut their price target on shares of Kraft Heinz from $27.00 to $25.00 and set a “sell” rating on the stock in a report on Monday, June 9th. Sanford C. Bernstein downgraded Kraft Heinz from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $34.00 to $31.00 in a report on Tuesday, April 22nd. DZ Bank downgraded Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Friday, May 9th. Finally, Cfra Research cut Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.35.

Kraft Heinz 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.