Shell Asset Management Co. Buys 21,138 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Shell Asset Management Co. boosted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 79.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,887 shares of the company’s stock after acquiring an additional 21,138 shares during the quarter. Shell Asset Management Co.’s holdings in Kraft Heinz were worth $1,471,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KHC. Generali Investments Management Co LLC bought a new stake in Kraft Heinz during the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Kraft Heinz during the 4th quarter valued at about $29,000. R Squared Ltd acquired a new position in Kraft Heinz during the 4th quarter valued at about $34,000. OFI Invest Asset Management acquired a new position in Kraft Heinz during the 4th quarter valued at about $36,000. Finally, Kennondale Capital Management LLC acquired a new position in Kraft Heinz during the 4th quarter valued at about $45,000. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $27.74 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The company has a market capitalization of $32.83 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30. The company’s 50 day moving average price is $29.22 and its two-hundred day moving average price is $30.17. The Kraft Heinz Company has a 52 week low of $27.14 and a 52 week high of $36.53.

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

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 5.77%. Kraft Heinz’s dividend payout ratio (DPR) is currently 73.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KHC shares. The Goldman Sachs Group cut their target price on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley started coverage on shares of Kraft Heinz in a research report 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 company from $34.00 to $31.00 in a research report on Tuesday, April 22nd. StockNews.com upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Finally, Cfra Research downgraded shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. According to data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus target price of $30.65.

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.