Voloridge Investment Management LLC Purchases 880,561 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Voloridge Investment Management LLC grew its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 185.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,356,340 shares of the company’s stock after buying an additional 880,561 shares during the period. Voloridge Investment Management LLC owned 0.11% of Kraft Heinz worth $41,653,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in KHC. Generali Investments Management Co LLC bought a new stake in Kraft Heinz during the 4th quarter valued at $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Kraft Heinz during the 4th quarter valued at $29,000. R Squared Ltd bought a new stake in shares of Kraft Heinz during the 4th quarter valued at $34,000. OFI Invest Asset Management purchased a new stake in Kraft Heinz during the 4th quarter worth about $36,000. Finally, Kennondale Capital Management LLC bought a new position in Kraft Heinz in the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays lowered their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Cfra Research cut shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Mizuho downgraded shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and cut their price target for the company from $38.00 to $31.00 in a report on Monday, February 10th. Jefferies Financial Group decreased their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Finally, Sanford C. Bernstein downgraded Kraft Heinz from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and an average target price of $30.65.

Kraft Heinz Stock Up 0.1%

Shares of NASDAQ KHC opened at $27.90 on Wednesday. The stock has a market capitalization of $33.02 billion, a P/E ratio of 12.35, a PEG ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a one year low of $27.14 and a one year high of $36.53. The firm’s 50 day simple moving average is $29.13 and its two-hundred day simple moving average is $30.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 EPS. As a group, analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date is Friday, May 30th. Kraft Heinz’s dividend payout ratio (DPR) 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.