Kraft Heinz Company (NASDAQ:KHC) Shares Bought by Old North State Wealth Management LLC

Old North State Wealth Management LLC boosted its holdings in shares of Kraft Heinz Company (NASDAQ:KHC) by 7.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,069 shares of the company’s stock after purchasing an additional 6,559 shares during the period. Kraft Heinz comprises approximately 1.5% of Old North State Wealth Management LLC’s investment portfolio, making the stock its 26th biggest holding. Old North State Wealth Management LLC’s holdings in Kraft Heinz were worth $2,712,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of KHC. Generali Investments Management Co LLC acquired a new position in Kraft Heinz during the fourth quarter worth $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Kraft Heinz during the 4th quarter worth about $29,000. OFI Invest Asset Management acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at $36,000. Pinney & Scofield Inc. acquired a new position in Kraft Heinz in the 4th quarter valued at about $38,000. Finally, Abound Wealth Management grew its holdings in shares of Kraft Heinz by 1,157.0% in the first quarter. Abound Wealth Management now owns 1,257 shares of the company’s stock valued at $38,000 after purchasing an additional 1,157 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on KHC shares. The Goldman Sachs Group raised Kraft Heinz from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $25.00 to $27.00 in a research note on Wednesday. Mizuho set a $29.00 target price on shares of Kraft Heinz and gave the stock a “neutral” rating in a research note on Wednesday, May 28th. Citigroup reaffirmed a “sell” rating and set a $27.00 price target (down from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Wall Street Zen raised Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Finally, Stifel Nicolaus reduced their price target on shares of Kraft Heinz from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $30.47.

Kraft Heinz Trading Up 0.2%

NASDAQ KHC opened at $25.79 on Friday. Kraft Heinz Company has a 12 month low of $25.53 and a 12 month high of $36.53. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.81. The company has a 50-day moving average of $27.38 and a 200-day moving average of $29.07. The company has a market cap of $30.52 billion, a P/E ratio of 11.78, a P/E/G ratio of 3.01 and a beta of 0.27.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the company earned $0.69 EPS. The company’s revenue was down 6.4% on a year-over-year basis. As a group, equities analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s dividend payout ratio (DPR) is 73.06%.

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.