Cornerstone Wealth Management LLC Buys 7,497 Shares of Kraft Heinz Company (NASDAQ:KHC)

Cornerstone Wealth Management LLC raised its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 65.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,039 shares of the company’s stock after buying an additional 7,497 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Kraft Heinz were worth $579,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of KHC. Vanguard Group Inc. raised its position in shares of Kraft Heinz by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock worth $2,779,524,000 after buying an additional 14,996,486 shares in the last quarter. Geode Capital Management LLC increased its stake in Kraft Heinz by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 19,745,734 shares of the company’s stock worth $604,644,000 after acquiring an additional 595,406 shares during the last quarter. Norges Bank purchased a new stake in shares of Kraft Heinz in the 4th quarter valued at about $324,857,000. Northern Trust Corp boosted its position in shares of Kraft Heinz by 12.6% during the 4th quarter. Northern Trust Corp now owns 9,289,691 shares of the company’s stock valued at $285,286,000 after acquiring an additional 1,039,885 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Kraft Heinz by 23.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,585,167 shares of the company’s stock valued at $263,650,000 after acquiring an additional 1,628,516 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Price Performance

KHC opened at $25.68 on Friday. 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 stock’s 50 day simple moving average is $27.73 and its 200 day simple moving average is $29.25. The firm has a market cap of $30.39 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 3.00 and a beta of 0.27. Kraft Heinz Company has a 1 year low of $25.53 and a 1 year high of $36.53.

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

Kraft Heinz Announces Dividend

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 dividend on an annualized basis and a dividend yield of 6.23%. The ex-dividend date is Friday, May 30th. Kraft Heinz’s payout ratio is 73.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KHC shares. Morgan Stanley began coverage on shares of Kraft Heinz in a research note on Monday, March 24th. They issued an “underweight” rating and a $29.00 target price on the stock. The Goldman Sachs Group decreased their price target on shares of Kraft Heinz from $27.00 to $25.00 and set a “sell” rating on the stock in a report on Monday, June 9th. Sanford C. Bernstein cut shares of Kraft Heinz from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Cfra Research lowered shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus reduced their target price on Kraft Heinz from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. Based on data from MarketBeat, Kraft Heinz presently has an average rating of “Hold” and a consensus target price of $30.35.

Kraft Heinz 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.