SVB Wealth LLC Takes $1.12 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

SVB Wealth LLC bought a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,392 shares of the company’s stock, valued at approximately $1,118,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Associates Ltd. boosted its stake in Kraft Heinz by 13.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 14,282 shares of the company’s stock valued at $528,000 after acquiring an additional 1,668 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Kraft Heinz by 19.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 11,328 shares of the company’s stock valued at $398,000 after acquiring an additional 1,881 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in Kraft Heinz during the 3rd quarter valued at $203,000. Silvant Capital Management LLC boosted its stake in Kraft Heinz by 53.4% during the 3rd quarter. Silvant Capital Management LLC now owns 4,108 shares of the company’s stock valued at $144,000 after acquiring an additional 1,430 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Kraft Heinz by 26.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 314,912 shares of the company’s stock valued at $11,057,000 after acquiring an additional 65,672 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on KHC. StockNews.com cut shares of Kraft Heinz from a “hold” rating to a “sell” rating in a report on Friday, February 14th. Evercore ISI reissued an “in-line” rating and set a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Bank of America cut shares of Kraft Heinz from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $36.00 to $30.00 in a report on Thursday, February 13th. TD Cowen dropped their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Piper Sandler dropped their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and a consensus price target of $30.86.

Kraft Heinz Stock Up 0.2 %

KHC stock opened at $30.72 on Monday. The firm’s 50-day simple moving average is $29.77 and its 200 day simple moving average is $32.39. The stock has a market cap of $36.71 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 3.39 and a beta of 0.47. 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 fifty-two week low of $27.25 and a fifty-two week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. As a group, sell-side analysts predict that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.21%. Kraft Heinz’s dividend payout ratio is presently 70.80%.

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.