RiverPark Advisors LLC cut its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 14.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 319,500 shares of the company’s stock after selling 55,000 shares during the period. Kraft Heinz comprises approximately 3.6% of RiverPark Advisors LLC’s holdings, making the stock its 12th largest position. RiverPark Advisors LLC’s holdings in Kraft Heinz were worth $24,844,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in KHC. U S Global Investors Inc. bought a new stake in Kraft Heinz in the second quarter worth approximately $388,000. Iberiabank Corp grew its position in Kraft Heinz by 7.4% in the third quarter. Iberiabank Corp now owns 20,479 shares of the company’s stock worth $1,588,000 after acquiring an additional 1,415 shares in the last quarter. Gemmer Asset Management LLC grew its position in Kraft Heinz by 26.0% in the fourth quarter. Gemmer Asset Management LLC now owns 13,361 shares of the company’s stock worth $1,039,000 after acquiring an additional 2,758 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in Kraft Heinz by 198.3% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 401,219 shares of the company’s stock worth $31,115,000 after acquiring an additional 266,720 shares in the last quarter. Finally, Albion Financial Group UT grew its position in Kraft Heinz by 3.7% in the third quarter. Albion Financial Group UT now owns 47,757 shares of the company’s stock worth $3,704,000 after acquiring an additional 1,719 shares in the last quarter. 63.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kraft Heinz Co (NASDAQ:KHC) opened at $67.23 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.72 and a quick ratio of 0.44. Kraft Heinz Co has a one year low of $66.36 and a one year high of $93.88. The firm has a market cap of $81,945.04, a price-to-earnings ratio of 18.94, a PEG ratio of 1.82 and a beta of 0.58.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, March 8th. Kraft Heinz’s payout ratio is 27.90%.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, December 18th. Jefferies Group assumed coverage on shares of Kraft Heinz in a research report on Friday, January 19th. They issued a “buy” rating and a $95.00 target price for the company. Piper Jaffray Companies reissued an “overweight” rating and issued a $94.00 target price (up from $90.00) on shares of Kraft Heinz in a research report on Tuesday, January 30th. BidaskClub downgraded shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Saturday, December 9th. Finally, Vetr raised shares of Kraft Heinz from a “buy” rating to a “strong-buy” rating and set a $85.31 target price for the company in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $85.78.
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About Kraft Heinz
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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