Summit Securities Group LLC Acquires New Shares in The Kraft Heinz Company (NASDAQ:KHC)

Summit Securities Group LLC bought a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,157 shares of the company’s stock, valued at approximately $66,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in Kraft Heinz by 191.0% during the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 636 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Kraft Heinz by 9.4% during the third quarter. The Manufacturers Life Insurance Company now owns 544,638 shares of the company’s stock worth $19,122,000 after buying an additional 46,740 shares during the period. CreativeOne Wealth LLC bought a new position in Kraft Heinz in the 3rd quarter worth approximately $231,000. Public Sector Pension Investment Board increased its position in Kraft Heinz by 138.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 34,751 shares of the company’s stock valued at $1,220,000 after acquiring an additional 20,200 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Kraft Heinz by 62.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 641,668 shares of the company’s stock valued at $22,529,000 after acquiring an additional 247,328 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Up 0.6 %

Shares of Kraft Heinz stock opened at $30.24 on Monday. 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 Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The firm has a market capitalization of $36.14 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The stock’s fifty day moving average is $29.99 and its 200-day moving average is $31.69.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data 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%. Equities analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend was Friday, March 7th. Kraft Heinz’s dividend payout ratio is 70.80%.

Analysts Set New Price Targets

KHC has been the topic of a number of research analyst reports. TD Cowen lowered their price target on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. StockNews.com raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Wells Fargo & Company reduced their price target on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Piper Sandler decreased their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Citigroup cut Kraft Heinz from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $34.00 to $28.00 in a report 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 company’s stock. According to data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and an average price target of $30.73.

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.