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

Alpha Omega Wealth Management LLC grew its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 60.7% in the first quarter, according to its most recent disclosure with the SEC. The fund 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Generali Investments Management Co LLC purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at about $29,000. OFI Invest Asset Management purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at about $36,000. Pinney & Scofield Inc. purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at about $38,000. Finally, Kennondale Capital Management LLC purchased a new stake in shares of Kraft Heinz in 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 Down 0.6%

Shares of NASDAQ KHC opened at $26.42 on Thursday. The Kraft Heinz Company has a 12-month low of $26.01 and a 12-month high of $36.53. The company has a market capitalization of $31.27 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 3.39 and a beta of 0.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The firm’s 50-day moving average is $28.04 and its two-hundred day moving average is $29.50.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. Equities analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 73.06%.

Wall Street Analysts Forecast Growth

KHC has been the topic of a number of recent analyst reports. Piper Sandler dropped 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. Mizuho set a $29.00 price target on shares of Kraft Heinz and gave the stock a “neutral” rating in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Sanford C. Bernstein lowered shares of Kraft Heinz from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Finally, Bank of America lowered shares of Kraft Heinz from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $36.00 to $30.00 in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to data from MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and an average target price 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.