Lorne Steinberg Wealth Management Inc. Boosts Stake in The Kraft Heinz Company (NASDAQ:KHC)

Lorne Steinberg Wealth Management Inc. increased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.2% in the fourth quarter, Holdings Channel reports. The firm owned 109,265 shares of the company’s stock after buying an additional 265 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Kraft Heinz were worth $4,041,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of KHC. Invesco Ltd. lifted its holdings in Kraft Heinz by 10.7% during the 3rd quarter. Invesco Ltd. now owns 24,601,098 shares of the company’s stock worth $827,581,000 after buying an additional 2,369,080 shares in the last quarter. AQR Capital Management LLC raised its position in Kraft Heinz by 86.0% in the 3rd quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock valued at $155,671,000 after purchasing an additional 2,140,153 shares in the last quarter. LSV Asset Management grew its position in shares of Kraft Heinz by 27.1% during the third quarter. LSV Asset Management now owns 9,263,400 shares of the company’s stock worth $311,621,000 after buying an additional 1,977,571 shares in the last quarter. Nordea Investment Management AB raised its holdings in Kraft Heinz by 3,167.3% in the third quarter. Nordea Investment Management AB now owns 1,869,778 shares of the company’s stock valued at $63,198,000 after acquiring an additional 1,812,551 shares in the last quarter. Finally, Morgan Stanley grew its holdings in Kraft Heinz by 7.2% during the 3rd quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock worth $423,216,000 after acquiring an additional 850,326 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on KHC. Wells Fargo & Company dropped their target price on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, February 15th. Citigroup assumed coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They issued a “buy” rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Bank of America upped their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.57.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC traded up $0.38 during trading on Wednesday, hitting $38.45. 2,860,109 shares of the stock were exchanged, compared to its average volume of 8,017,364. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $41.47. The company has a market cap of $46.74 billion, a PE ratio of 16.48, a P/E/G ratio of 3.01 and a beta of 0.67. The company has a fifty day moving average price of $35.98 and a two-hundred day moving average price of $35.48. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.99 billion. During the same quarter last year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.16%. Kraft Heinz’s dividend payout ratio (DPR) is 69.26%.

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.