Assetmark Inc. Grows Stake in The Kraft Heinz Company (NASDAQ:KHC)

Assetmark Inc. increased its stake in The Kraft Heinz Company (NASDAQ:KHC) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,984 shares of the company’s stock after acquiring an additional 3,522 shares during the period. Assetmark Inc.’s holdings in Kraft Heinz were worth $3,101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KHC. Principal Financial Group Inc. grew its position in Kraft Heinz by 14.4% in the third quarter. Principal Financial Group Inc. now owns 1,097,084 shares of the company’s stock worth $38,519,000 after acquiring an additional 138,101 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Kraft Heinz in the third quarter worth about $33,000. First Personal Financial Services lifted its stake in Kraft Heinz by 10.6% in the third quarter. First Personal Financial Services now owns 26,950 shares of the company’s stock worth $946,000 after purchasing an additional 2,577 shares during the last quarter. Atria Investments Inc lifted its stake in Kraft Heinz by 36.3% in the third quarter. Atria Investments Inc now owns 41,959 shares of the company’s stock worth $1,473,000 after purchasing an additional 11,185 shares during the last quarter. Finally, XML Financial LLC bought a new stake in Kraft Heinz in the third quarter worth about $201,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KHC. Mizuho downgraded shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $38.00 to $31.00 in a research note on Monday, February 10th. Citigroup downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. Barclays decreased their price objective on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. The Goldman Sachs Group decreased their price target on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a research note on Thursday, February 13th. Finally, UBS Group decreased their price target on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.86.

Kraft Heinz Price Performance

NASDAQ KHC opened at $32.18 on Monday. The firm’s fifty day simple moving average is $29.85 and its two-hundred day simple moving average is $32.27. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The firm has a market capitalization of $38.45 billion, a P/E ratio of 14.24, a P/E/G ratio of 3.39 and a beta of 0.40.

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

Kraft Heinz Announces Dividend

The firm 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.97%. Kraft Heinz’s dividend payout ratio is presently 70.80%.

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.