The Kraft Heinz Company (NASDAQ:KHC) Shares Acquired by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 413.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,700 shares of the company’s stock after acquiring an additional 1,369 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Kraft Heinz were worth $52,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of KHC. Thrivent Financial for Lutherans raised its stake in Kraft Heinz by 23.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 52,628 shares of the company’s stock worth $1,848,000 after acquiring an additional 9,833 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Kraft Heinz by 5.5% in the third quarter. Cerity Partners LLC now owns 486,653 shares of the company’s stock worth $17,086,000 after purchasing an additional 25,444 shares during the last quarter. Pitcairn Co. acquired a new stake in shares of Kraft Heinz during the third quarter worth about $228,000. Swedbank AB lifted its holdings in shares of Kraft Heinz by 6.9% during the third quarter. Swedbank AB now owns 775,689 shares of the company’s stock worth $27,234,000 after purchasing an additional 50,063 shares during the period. Finally, Larson Financial Group LLC boosted its position in Kraft Heinz by 191.0% in the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after buying an additional 636 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KHC shares. JPMorgan Chase & Co. reduced their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Barclays reduced their target price on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. UBS Group lowered their price target on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Mizuho lowered Kraft Heinz from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $38.00 to $31.00 in a research note on Monday, February 10th. Finally, The Goldman Sachs Group lowered their target price on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.73.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $29.10 on Wednesday. The company has a fifty day moving average of $29.93 and a two-hundred day moving average of $31.80. The Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $38.96. The stock has a market capitalization of $34.77 billion, a PE ratio of 12.88, a P/E/G ratio of 3.39 and a beta of 0.40. 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 posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. As a group, research analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.50%. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

About Kraft Heinz

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.