Bahl & Gaynor Inc. lowered its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 28.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,704 shares of the company’s stock after selling 14,240 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Kraft Heinz were worth $2,286,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Stonebridge Capital Advisors LLC boosted its position in shares of Kraft Heinz by 4.2% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 50,250 shares of the company’s stock worth $3,907,000 after purchasing an additional 2,007 shares in the last quarter. Burgundy Asset Management Ltd. raised its holdings in shares of Kraft Heinz by 66.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 25,000 shares of the company’s stock worth $1,557,000 after acquiring an additional 10,000 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Kraft Heinz by 41.4% in the 4th quarter. Mackenzie Financial Corp now owns 570,817 shares of the company’s stock worth $44,387,000 after acquiring an additional 167,133 shares during the last quarter. Ferris Capital LLC raised its holdings in shares of Kraft Heinz by 18.1% in the 4th quarter. Ferris Capital LLC now owns 19,120 shares of the company’s stock worth $1,487,000 after acquiring an additional 2,933 shares during the last quarter. Finally, Banco de Sabadell S.A acquired a new stake in shares of Kraft Heinz in the 4th quarter worth about $401,000. 62.31% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:KHC opened at $60.67 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.72 and a debt-to-equity ratio of 0.43. Kraft Heinz Co has a 52 week low of $54.11 and a 52 week high of $91.84. The stock has a market capitalization of $73.00 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.89 and a beta of 0.60.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, May 18th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $2.50 annualized dividend and a dividend yield of 4.12%. Kraft Heinz’s payout ratio is currently 70.42%.
In related news, Director Mackey J. Mcdonald purchased 669 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was bought at an average price of $60.27 per share, for a total transaction of $40,320.63. Following the purchase, the director now directly owns 17,486 shares in the company, valued at approximately $1,053,881.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 26.81% of the company’s stock.
KHC has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Friday, April 20th. Royal Bank of Canada restated a “buy” rating and issued a $77.00 target price on shares of Kraft Heinz in a report on Tuesday, April 24th. UBS Group set a $80.00 target price on shares of Kraft Heinz and gave the stock a “buy” rating in a report on Tuesday, February 20th. Jefferies Financial Group restated a “buy” rating and issued a $95.00 target price on shares of Kraft Heinz in a report on Friday, February 16th. Finally, Bank of America lowered their target price on shares of Kraft Heinz from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $77.85.
About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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