Exchange Traded Concepts LLC Increases Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Exchange Traded Concepts LLC grew its stake in The Kraft Heinz Company (NASDAQ:KHC) by 19.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 651,720 shares of the company’s stock after purchasing an additional 103,980 shares during the period. Exchange Traded Concepts LLC’s holdings in Kraft Heinz were worth $20,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of KHC. State Street Corp grew its holdings in Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after buying an additional 1,944,019 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Kraft Heinz in the third quarter worth approximately $411,304,000. Legal & General Group Plc lifted its stake in shares of Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after acquiring an additional 799,581 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after acquiring an additional 1,238,200 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

KHC opened at $29.10 on Friday. The firm has a market capitalization of $35.18 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 3.45 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The business’s 50-day moving average is $30.62 and its two-hundred day moving average is $33.16. The Kraft Heinz Company has a 1 year low of $28.37 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that The Kraft Heinz Company will post 3 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were given a $0.40 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.50%. Kraft Heinz’s payout ratio is 144.14%.

Insider Buying and Selling

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KHC has been the subject of several research analyst reports. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Mizuho decreased their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. UBS Group dropped their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Finally, Piper Sandler restated a “neutral” rating and set a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.23.

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.