Headlands Technologies LLC Buys Shares of 66,686 The Kraft Heinz Company (NASDAQ:KHC)

Headlands Technologies LLC purchased a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 66,686 shares of the company’s stock, valued at approximately $2,048,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Kraft Heinz by 19.9% during the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock worth $2,779,524,000 after purchasing an additional 14,996,486 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Kraft Heinz during the 3rd quarter worth approximately $411,304,000. Norges Bank acquired a new position in Kraft Heinz in the 4th quarter valued at approximately $324,857,000. State Street Corp raised its stake in shares of Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after acquiring an additional 6,366,732 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after purchasing an additional 1,944,019 shares during the period. Institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KHC. Barclays lowered their target price on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Morgan Stanley began coverage on Kraft Heinz in a report on Monday, March 24th. They issued an “underweight” rating and a $29.00 target price on the stock. TD Cowen dropped their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler lowered their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, StockNews.com upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Three research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.73.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $30.34 on Wednesday. The stock’s 50 day moving average is $30.03 and its 200-day moving average is $31.62. The Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $38.96. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $36.26 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 3.39 and a beta of 0.40.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Sell-side analysts forecast 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 was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.27%. Kraft Heinz’s dividend payout ratio is presently 70.80%.

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.