CIBC Asset Management Inc Raises Stake in The Kraft Heinz Company (NASDAQ:KHC)

CIBC Asset Management Inc lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 369,180 shares of the company’s stock after purchasing an additional 9,394 shares during the quarter. CIBC Asset Management Inc’s holdings in Kraft Heinz were worth $11,338,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Sawyer & Company Inc purchased a new stake in shares of Kraft Heinz during the 4th quarter worth about $25,000. Fortitude Family Office LLC grew its holdings in shares of Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Kraft Heinz during the 3rd quarter worth about $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Kraft Heinz during the 3rd quarter worth about $33,000. Finally, Larson Financial Group LLC grew its holdings in shares of Kraft Heinz by 191.0% during the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after purchasing an additional 636 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of KHC opened at $29.32 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The firm has a market cap of $35.45 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 3.74 and a beta of 0.47. The Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $38.96. The business’s 50 day moving average is $29.85 and its two-hundred day moving average is $32.67.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Analysts forecast that The Kraft Heinz Company will post 3 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio is currently 144.14%.

Wall Street Analyst Weigh In

KHC has been the subject of a number of research reports. Piper Sandler decreased 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. Evercore ISI reissued an “in-line” rating and set a $35.00 price target (down from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Jefferies Financial Group reduced their price target on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Finally, Barclays reduced their price target on 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. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.86.

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.