Prestige Wealth Management Group LLC Boosts Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Prestige Wealth Management Group LLC lifted its stake in The Kraft Heinz Company (NASDAQ:KHC) by 413.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,700 shares of the company’s stock after purchasing an additional 1,369 shares during the period. Prestige Wealth Management Group LLC’s holdings in Kraft Heinz were worth $52,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KHC. Thrivent Financial for Lutherans increased its stake in shares of Kraft Heinz by 23.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 52,628 shares of the company’s stock worth $1,848,000 after acquiring an additional 9,833 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Kraft Heinz by 5.5% in the third quarter. Cerity Partners LLC now owns 486,653 shares of the company’s stock valued at $17,086,000 after purchasing an additional 25,444 shares during the period. Pitcairn Co. acquired a new stake in Kraft Heinz during the third quarter worth about $228,000. Swedbank AB raised its stake in Kraft Heinz by 6.9% during the third quarter. Swedbank AB now owns 775,689 shares of the company’s stock worth $27,234,000 after purchasing an additional 50,063 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Kraft Heinz by 191.0% in 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 last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $29.10 on Wednesday. The company has a market cap of $34.77 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. 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 52 week low of $27.25 and a 52 week high of $38.96. The company has a fifty day simple moving average of $29.93 and a two-hundred day simple moving average of $31.80.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share 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%. As a group, equities analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid 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 5.50%. Kraft Heinz’s dividend payout ratio is currently 70.80%.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. TD Cowen cut their target price on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Barclays reduced their target price on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. The Goldman Sachs Group lowered their price target on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a report on Thursday, February 13th. Finally, Evercore ISI restated an “in-line” rating and issued a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and a consensus target price of $30.73.

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.