Alpha Omega Wealth Management LLC Increases Position in The Kraft Heinz Company (NASDAQ:KHC)

Alpha Omega Wealth Management LLC lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 60.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 14,632 shares of the company’s stock after buying an additional 5,528 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Kraft Heinz were worth $445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KHC. Generali Investments Management Co LLC purchased a new position in shares of Kraft Heinz during the fourth quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Kraft Heinz during the fourth quarter valued at approximately $29,000. OFI Invest Asset Management purchased a new position in Kraft Heinz during the fourth quarter worth approximately $36,000. Pinney & Scofield Inc. purchased a new position in Kraft Heinz during the fourth quarter worth approximately $38,000. Finally, Kennondale Capital Management LLC purchased a new position in Kraft Heinz during the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KHC. Stifel Nicolaus cut their price target on shares of Kraft Heinz from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Sanford C. Bernstein downgraded shares of Kraft Heinz from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Piper Sandler cut their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Cfra Research downgraded shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Four research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. According to data from MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and a consensus price target of $30.35.

Kraft Heinz Price Performance

KHC opened at $26.42 on Thursday. The company has a fifty day simple moving average of $28.04 and a 200 day simple moving average of $29.50. The firm has a market cap of $31.27 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 3.39 and a beta of 0.27. The Kraft Heinz Company has a twelve month low of $26.01 and a twelve month high of $36.53. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39.

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, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $6 billion during 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 business’s revenue was down 6.4% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. Equities research analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date is Friday, May 30th. Kraft Heinz’s payout ratio is 73.06%.

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.