Alpha Omega Wealth Management LLC Lowers Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Alpha Omega Wealth Management LLC lowered its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.7% in the fourth quarter, HoldingsChannel reports. The fund owned 14,400 shares of the company’s stock after selling 406 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Kraft Heinz were worth $533,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of KHC. Raymond James Trust N.A. increased its position in Kraft Heinz by 11.0% during the 4th quarter. Raymond James Trust N.A. now owns 39,610 shares of the company’s stock worth $1,465,000 after purchasing an additional 3,916 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Kraft Heinz in the 3rd quarter valued at $5,399,000. Victory Capital Management Inc. raised its stake in shares of Kraft Heinz by 16.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,768,073 shares of the company’s stock valued at $59,478,000 after acquiring an additional 247,896 shares during the period. Cerity Partners LLC lifted its holdings in shares of Kraft Heinz by 42.5% during the 4th quarter. Cerity Partners LLC now owns 457,923 shares of the company’s stock valued at $16,934,000 after acquiring an additional 136,556 shares in the last quarter. Finally, FMR LLC boosted its position in Kraft Heinz by 37.9% during the 3rd quarter. FMR LLC now owns 3,029,052 shares of the company’s stock worth $101,897,000 after purchasing an additional 832,653 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Stock Performance

Kraft Heinz stock traded up $0.11 during midday trading on Wednesday, reaching $36.70. 3,130,596 shares of the stock traded hands, compared to its average volume of 8,101,594. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $41.47. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The firm has a market cap of $44.61 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.87 and a beta of 0.67. The firm has a fifty day moving average price of $35.85 and a two-hundred day moving average price of $35.32.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.99 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The business’s revenue was down 7.1% on a year-over-year basis. On average, equities research analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.36%. Kraft Heinz’s dividend payout ratio is presently 69.26%.

Wall Street Analysts Forecast Growth

KHC has been the topic of several analyst reports. Bank of America raised their target price on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday. Citigroup began coverage on shares of Kraft Heinz in a research report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $40.71.

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.