Kraft Heinz Company (NASDAQ:KHC) Shares Purchased by Forum Financial Management LP

Forum Financial Management LP boosted its holdings in Kraft Heinz Company (NASDAQ:KHC) by 2.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 20,179 shares of the company’s stock after purchasing an additional 460 shares during the quarter. Forum Financial Management LP’s holdings in Kraft Heinz were worth $614,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Kraft Heinz by 19.9% during the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock worth $2,779,524,000 after purchasing an additional 14,996,486 shares during the period. Norges Bank bought a new position in Kraft Heinz in the fourth quarter worth $324,857,000. Southeastern Asset Management Inc. TN bought a new position in Kraft Heinz in the fourth quarter worth $87,080,000. Fairfax Financial Holdings Ltd. Can lifted its position in Kraft Heinz by 341.9% in 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 period. Finally, Criteria Caixa S.A.U. bought a new position in shares of Kraft Heinz during the fourth quarter valued at $73,316,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Up 2.0%

KHC stock opened at $28.13 on Friday. The firm has a market cap of $33.29 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 3.23 and a beta of 0.25. The business has a 50 day moving average of $26.68 and a 200 day moving average of $28.65. Kraft Heinz Company has a twelve month low of $25.44 and a twelve month high of $36.53. The company has a quick ratio of 0.81, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the business earned $0.69 earnings per share. Kraft Heinz’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, research analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 30th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 5.69%. Kraft Heinz’s dividend payout ratio is currently 73.06%.

Analyst Ratings Changes

A number of research firms recently issued reports on KHC. The Goldman Sachs Group raised Kraft Heinz from a “sell” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $27.00 in a report on Wednesday, June 25th. Citigroup restated a “sell” rating and set a $27.00 target price (down from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. Cfra Research cut Kraft Heinz from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 16th. Stifel Nicolaus cut their price objective on Kraft Heinz from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. Finally, Sanford C. Bernstein cut Kraft Heinz from an “outperform” rating to a “market perform” rating and cut their target price for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.29.

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.