Kraft Heinz Company (NASDAQ:KHC) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 84.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,531 shares of the company’s stock after acquiring an additional 17,643 shares during the quarter. QRG Capital Management Inc.’s holdings in Kraft Heinz were worth $1,173,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KHC. Lorne Steinberg Wealth Management Inc. increased its position in Kraft Heinz by 2.2% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 110,005 shares of the company’s stock worth $3,347,000 after purchasing an additional 2,375 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Kraft Heinz by 9.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 332,414 shares of the company’s stock worth $10,115,000 after purchasing an additional 27,740 shares in the last quarter. M.E. Allison & CO. Inc. acquired a new stake in Kraft Heinz during the 1st quarter worth approximately $253,000. Abound Wealth Management increased its position in Kraft Heinz by 1,157.0% during the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company’s stock worth $38,000 after purchasing an additional 1,157 shares in the last quarter. Finally, Optas LLC acquired a new stake in Kraft Heinz during the 1st quarter worth approximately $209,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the subject of a number of research analyst reports. Mizuho set a $29.00 target price on shares of Kraft Heinz and gave the stock a “neutral” rating in a research report on Wednesday, May 28th. Wall Street Zen raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Morgan Stanley began coverage on Kraft Heinz in a report on Monday, March 24th. They issued an “underweight” rating and a $29.00 price target for the company. The Goldman Sachs Group lowered their price objective on shares of Kraft Heinz from $27.00 to $25.00 and set a “sell” rating for the company in a research report on Monday, June 9th. Finally, Sanford C. Bernstein downgraded shares of Kraft Heinz from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.35.

Kraft Heinz Stock Up 0.5%

KHC stock opened at $25.80 on Friday. Kraft Heinz Company has a twelve month low of $25.53 and a twelve month high of $36.53. The company has a current ratio of 1.31, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $30.54 billion, a P/E ratio of 11.78, a PEG ratio of 3.00 and a beta of 0.27. The firm has a 50 day simple moving average of $27.66 and a 200-day simple moving average of $29.22.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter last year, the company earned $0.69 earnings per share. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s dividend payout ratio is presently 73.06%.

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.