Abound Wealth Management Grows Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Abound Wealth Management raised its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1,157.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,257 shares of the company’s stock after buying an additional 1,157 shares during the period. Abound Wealth Management’s holdings in Kraft Heinz were worth $38,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Generali Investments Management Co LLC purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at about $29,000. OFI Invest Asset Management purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at about $36,000. Pinney & Scofield Inc. purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at about $38,000. Finally, Kennondale Capital Management LLC purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at about $45,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Performance

KHC opened at $26.08 on Monday. The Kraft Heinz Company has a 12-month low of $26.01 and a 12-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. The firm has a market capitalization of $30.87 billion, a PE ratio of 11.54, a P/E/G ratio of 3.39 and a beta of 0.27. The firm has a 50 day moving average of $27.97 and a two-hundred day moving average of $29.39.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm 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 quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. On average, analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.13%. The ex-dividend date is Friday, May 30th. Kraft Heinz’s dividend payout ratio (DPR) is 73.06%.

Wall Street Analysts Forecast Growth

Several research firms have commented on KHC. Morgan Stanley began coverage on shares of Kraft Heinz in a research report on Monday, March 24th. They set an “underweight” rating and a $29.00 price target for the company. Mizuho set a $29.00 price objective on shares of Kraft Heinz and gave the company a “neutral” rating in a research report on Wednesday, May 28th. Sanford C. Bernstein lowered shares of Kraft Heinz from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Citigroup reaffirmed a “sell” rating and issued a $27.00 price objective (down from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. Finally, Cfra Research lowered shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Four equities research 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.

About Kraft Heinz

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.