Harvest Fund Management Co. Ltd Increases Position in The Kraft Heinz Company (NASDAQ:KHC)

Harvest Fund Management Co. Ltd lifted its position in The Kraft Heinz Company (NASDAQ:KHC) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,118 shares of the company’s stock after purchasing an additional 1,112 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Kraft Heinz were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new position in Kraft Heinz during the third quarter valued at $26,000. Riverview Trust Co purchased a new position in Kraft Heinz during the third quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in Kraft Heinz during the fourth quarter valued at $32,000. BKM Wealth Management LLC bought a new position in Kraft Heinz during the fourth quarter valued at $33,000. Finally, Headinvest LLC bought a new position in Kraft Heinz during the third quarter valued at $38,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on KHC shares. Citigroup started coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They issued a “buy” rating and a $43.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Wells Fargo & Company lowered their target price on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Finally, Bank of America lifted their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Kraft Heinz presently has an average rating of “Hold” and a consensus price target of $40.57.

Kraft Heinz Stock Performance

Shares of KHC traded up $0.50 during trading hours on Wednesday, hitting $38.57. The stock had a trading volume of 7,231,868 shares, compared to its average volume of 8,083,533. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99. The firm has a 50-day moving average price of $35.98 and a 200 day moving average price of $35.48. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $41.47. The firm has a market capitalization of $46.89 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 3.01 and a beta of 0.67.

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

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Thursday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.26%.

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.