Lorne Steinberg Wealth Management Inc. Raises Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Lorne Steinberg Wealth Management Inc. increased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,265 shares of the company’s stock after acquiring an additional 265 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Kraft Heinz were worth $4,041,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Community Bank & Trust Waco Texas grew its holdings in shares of Kraft Heinz by 18.3% during the fourth quarter. Community Bank & Trust Waco Texas now owns 23,296 shares of the company’s stock worth $861,000 after purchasing an additional 3,604 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Kraft Heinz by 10.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 578,590 shares of the company’s stock worth $21,396,000 after buying an additional 52,782 shares during the period. Foster & Motley Inc. boosted its holdings in shares of Kraft Heinz by 14.9% in the fourth quarter. Foster & Motley Inc. now owns 47,330 shares of the company’s stock valued at $1,750,000 after acquiring an additional 6,129 shares during the period. Duality Advisers LP purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at about $694,000. Finally, Capital Investment Advisory Services LLC raised its stake in shares of Kraft Heinz by 51.0% during the fourth quarter. Capital Investment Advisory Services LLC now owns 12,401 shares of the company’s stock worth $459,000 after purchasing an additional 4,187 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on KHC shares. Bank of America lifted their price target on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Citigroup began coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company decreased their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.57.

Kraft Heinz Price Performance

Kraft Heinz stock traded up $0.38 during mid-day trading on Wednesday, hitting $38.45. The company’s stock had a trading volume of 2,860,109 shares, compared to its average volume of 8,017,364. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $41.47. The stock has a market capitalization of $46.74 billion, a P/E ratio of 16.48, a P/E/G ratio of 3.01 and a beta of 0.67. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.39. The stock’s fifty day moving average price is $35.98 and its two-hundred day moving average price is $35.48.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.99 billion. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. Research analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.16%. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.26%.

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.