Advisors Asset Management Inc. Purchases 74,910 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Advisors Asset Management Inc. grew its position in The Kraft Heinz Company (NASDAQ:KHC) by 137.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 129,424 shares of the company’s stock after purchasing an additional 74,910 shares during the quarter. Advisors Asset Management Inc.’s holdings in Kraft Heinz were worth $3,975,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its holdings in Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after purchasing an additional 6,366,732 shares during the period. Geode Capital Management LLC grew its holdings in Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after purchasing an additional 1,944,019 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in Kraft Heinz in the third quarter worth $411,304,000. Nordea Investment Management AB grew its holdings in Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after purchasing an additional 1,238,200 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Kraft Heinz by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,601,292 shares of the company’s stock worth $172,016,000 after purchasing an additional 293,694 shares during the period. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KHC. UBS Group reduced their price target on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Bank of America cut shares of Kraft Heinz from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $36.00 to $30.00 in a report on Thursday, February 13th. Stifel Nicolaus reduced their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Jefferies Financial Group reduced their price objective on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Finally, Piper Sandler reduced their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.86.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $29.71 on Friday. The firm has a market cap of $35.50 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 3.39 and a beta of 0.40. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week high of $38.96. The firm’s 50-day simple moving average is $29.90 and its two-hundred day simple moving average is $32.00.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping the consensus estimate 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, equities analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.39%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s dividend payout ratio is 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.