Western Wealth Management LLC Takes Position in Kraft Heinz Company (NASDAQ:KHC)

Western Wealth Management LLC purchased a new stake in Kraft Heinz Company (NASDAQ:KHC) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,539 shares of the company’s stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also made changes to their positions in KHC. Hara Capital LLC raised its stake in shares of Kraft Heinz by 61.9% in the 4th quarter. Hara Capital LLC now owns 1,700 shares of the company’s stock valued at $52,000 after acquiring an additional 650 shares during the period. New York Life Investment Management LLC raised its stake in shares of Kraft Heinz by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock valued at $3,995,000 after acquiring an additional 361 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in shares of Kraft Heinz by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 334,800 shares of the company’s stock valued at $10,282,000 after acquiring an additional 5,600 shares during the period. Kovack Advisors Inc. raised its stake in shares of Kraft Heinz by 16.8% in the 4th quarter. Kovack Advisors Inc. now owns 6,889 shares of the company’s stock valued at $212,000 after acquiring an additional 990 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Kraft Heinz in the 4th quarter valued at approximately $2,482,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Trading Down 0.7%

Shares of NASDAQ:KHC opened at $25.61 on Friday. Kraft Heinz Company has a 52 week low of $25.44 and a 52 week high of $36.53. The company’s 50 day moving average is $27.30 and its two-hundred day moving average is $29.01. The company has a current ratio of 1.31, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. The company has a market cap of $30.31 billion, a PE ratio of 11.69, a P/E/G ratio of 3.00 and a beta of 0.27.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating 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 company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the firm posted $0.69 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. Equities analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.25%. The ex-dividend date of this dividend was Friday, May 30th. Kraft Heinz’s payout ratio is 73.06%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KHC shares. The Goldman Sachs Group raised shares of Kraft Heinz from a “sell” rating to a “neutral” rating and upped their target price for the stock from $25.00 to $27.00 in a research note on Wednesday. Wall Street Zen raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Morgan Stanley started coverage on shares of Kraft Heinz in a research note on Monday, March 24th. They set an “underweight” rating and a $29.00 target price on the stock. Sanford C. Bernstein downgraded shares of Kraft Heinz from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Finally, 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. Three equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.47.

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.