The Kraft Heinz Company (NASDAQ:KHC) Stake Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 369,180 shares of the company’s stock after buying an additional 9,394 shares during the quarter. CIBC Asset Management Inc’s holdings in Kraft Heinz were worth $11,338,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in KHC. Hotchkis & Wiley Capital Management LLC bought a new position in Kraft Heinz during the 3rd quarter worth $411,304,000. State Street Corp grew its stake in shares of 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of 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 in the last quarter. Nordea Investment Management AB grew its stake in shares of 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 in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Kraft Heinz by 1,139.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company’s stock worth $39,112,000 after purchasing an additional 1,170,814 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Stifel Nicolaus decreased their price target 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. Citigroup cut Kraft Heinz from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. Bank of America cut Kraft Heinz from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $36.00 to $30.00 in a research note on Thursday, February 13th. The Goldman Sachs Group decreased their target price on 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, 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. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.86.

Kraft Heinz Trading Up 1.4 %

Shares of NASDAQ KHC opened at $29.32 on Wednesday. The Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $38.96. The company has a market cap of $35.45 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 3.74 and a beta of 0.47. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $29.85 and a 200-day simple moving average of $32.67.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Sell-side analysts predict that The Kraft Heinz Company will post 3 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed 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. This represents a $1.60 annualized dividend and a yield of 5.46%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s dividend payout ratio is currently 144.14%.

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.