NewEdge Advisors LLC Boosts Holdings in The Kraft Heinz Company (NASDAQ:KHC)

NewEdge Advisors LLC increased its stake in The Kraft Heinz Company (NASDAQ:KHC) by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,732 shares of the company’s stock after acquiring an additional 18,593 shares during the period. NewEdge Advisors LLC’s holdings in Kraft Heinz were worth $2,141,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. New York Life Investment Management LLC raised its holdings 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 buying an additional 361 shares during the period. Checchi Capital Advisers LLC increased its holdings in Kraft Heinz by 5.3% in the 4th 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 in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of 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 worth $1,097,000 after purchasing an additional 370 shares in the last quarter. Winch Advisory Services LLC grew 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 in the last quarter. Finally, Cohen Investment Advisors LLC lifted its position in Kraft Heinz by 5.0% during the 4th quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company’s stock worth $315,000 after acquiring an additional 487 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $29.94 on Tuesday. The company has a market cap of $35.73 billion, a PE ratio of 13.25, a P/E/G ratio of 3.39 and a beta of 0.44. The Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $38.96. The firm has a 50-day simple moving average of $30.01 and a 200 day simple moving average of $31.01. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (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%. On average, sell-side analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.34%. Kraft Heinz’s dividend payout ratio is presently 70.80%.

Wall Street Analyst Weigh In

KHC has been the topic of a number of recent research reports. Mizuho cut shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $38.00 to $31.00 in a research report on Monday, February 10th. Piper Sandler lowered their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Citigroup reiterated a “sell” rating and issued a $27.00 price target (down previously from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Barclays dropped their price objective on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their target price on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.67.

Kraft Heinz 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.