PNC Financial Services Group Inc. Grows Stake in The Kraft Heinz Company (NASDAQ:KHC)

PNC Financial Services Group Inc. raised its stake in The Kraft Heinz Company (NASDAQ:KHC) by 3.3% during the 4th quarter, HoldingsChannel reports. The firm owned 207,634 shares of the company’s stock after acquiring an additional 6,697 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kraft Heinz were worth $6,376,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. New York Life Investment Management LLC grew its stake in Kraft Heinz by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock worth $3,995,000 after purchasing an additional 361 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in Kraft Heinz by 5.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock worth $223,000 after purchasing an additional 366 shares in the last quarter. Winch Advisory Services LLC grew its stake in Kraft Heinz by 20.1% in the fourth quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock worth $70,000 after purchasing an additional 380 shares in the last quarter. Pinnacle Financial Partners Inc grew its stake in Kraft Heinz by 4.2% in the third quarter. Pinnacle Financial Partners Inc now owns 9,560 shares of the company’s stock worth $336,000 after purchasing an additional 381 shares in the last quarter. Finally, Cohen Investment Advisors LLC grew its stake in Kraft Heinz by 5.0% in the fourth quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company’s stock worth $315,000 after purchasing an additional 487 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $30.30 on Thursday. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. 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 firm has a market capitalization of $36.21 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The firm has a 50-day moving average price of $29.88 and a 200 day moving average price of $32.20.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data 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 net margin of 10.62% and a return on equity of 7.58%. Research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio is currently 70.80%.

Analysts Set New Price Targets

KHC has been the subject of a number of research reports. UBS Group decreased their price target on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. StockNews.com upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company decreased their target price on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus decreased their target price on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their target price on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $30.86.

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.