Geode Capital Management LLC Boosts Position in The Kraft Heinz Company (NASDAQ:KHC)

Geode Capital Management LLC grew its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,745,734 shares of the company’s stock after buying an additional 595,406 shares during the quarter. Geode Capital Management LLC’s holdings in Kraft Heinz were worth $604,644,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Kraft Heinz by 39.6% in the fourth quarter. Wellington Management Group LLP now owns 176,864 shares of the company’s stock valued at $5,431,000 after buying an additional 50,211 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Kraft Heinz by 45.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 85,122 shares of the company’s stock worth $2,614,000 after acquiring an additional 26,641 shares during the period. Bcwm LLC acquired a new stake in Kraft Heinz in the fourth quarter valued at approximately $2,103,000. Summit Securities Group LLC purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at approximately $66,000. Finally, Cornercap Investment Counsel Inc. lifted its position in shares of Kraft Heinz by 37.9% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 51,748 shares of the company’s stock worth $1,589,000 after purchasing an additional 14,232 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KHC shares. JPMorgan Chase & Co. dropped their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Piper Sandler dropped their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group cut their target price on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. StockNews.com upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, TD Cowen cut their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.73.

Kraft Heinz Trading Up 2.3 %

Shares of NASDAQ:KHC opened at $30.81 on Friday. The Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $38.96. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The company has a market cap of $36.77 billion, a PE ratio of 13.63, a P/E/G ratio of 3.39 and a beta of 0.44. The company’s 50-day moving average price is $30.09 and its 200 day moving average price is $31.60.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. Sell-side analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend was Friday, March 7th. Kraft Heinz’s dividend payout ratio is currently 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.