Headlands Technologies LLC Acquires Shares of 66,686 The Kraft Heinz Company (NASDAQ:KHC)

Headlands Technologies LLC bought a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 66,686 shares of the company’s stock, valued at approximately $2,048,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. New York Life Investment Management LLC boosted its stake in Kraft Heinz by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock valued at $3,995,000 after acquiring an additional 361 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in Kraft Heinz by 5.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock valued at $223,000 after purchasing an additional 366 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Kraft Heinz by 1.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company’s stock valued at $1,097,000 after purchasing an additional 370 shares during the period. Winch Advisory Services LLC raised its stake in shares of Kraft Heinz by 20.1% in the fourth quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock valued at $70,000 after buying an additional 380 shares during the period. Finally, Cohen Investment Advisors LLC lifted its position in shares of Kraft Heinz by 5.0% during the 4th quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company’s stock valued at $315,000 after buying an additional 487 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 NASDAQ:KHC opened at $30.34 on Wednesday. The firm has a market capitalization of $36.26 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 3.39 and a beta of 0.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $38.96. The company’s fifty day moving average price is $30.03 and its 200-day moving average price is $31.62.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. On average, equities research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.27%. Kraft Heinz’s dividend payout ratio is currently 70.80%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KHC shares. Evercore ISI reissued an “in-line” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. UBS Group reduced their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Morgan Stanley began coverage on shares of Kraft Heinz in a research note on Monday, March 24th. They set an “underweight” rating and a $29.00 price target on the stock. Piper Sandler lowered their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price target on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.73.

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.