Van ECK Associates Corp Boosts Stake in The Kraft Heinz Company (NASDAQ:KHC)

Van ECK Associates Corp increased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,388 shares of the company’s stock after buying an additional 2,727 shares during the quarter. Van ECK Associates Corp’s holdings in Kraft Heinz were worth $3,850,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in KHC. Sawyer & Company Inc acquired a new position in Kraft Heinz in the 4th quarter worth approximately $25,000. Fortitude Family Office LLC boosted its holdings in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Kraft Heinz in the 3rd quarter valued at $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Kraft Heinz in the third quarter worth $33,000. Finally, Larson Financial Group LLC raised its holdings in shares of Kraft Heinz by 191.0% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after purchasing an additional 636 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

KHC opened at $29.79 on Thursday. The firm’s fifty day simple moving average is $29.77 and its two-hundred day simple moving average is $32.60. The Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $38.96. The company has a market cap of $35.60 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 3.25 and a beta of 0.47. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share 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%. Equities analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s dividend payout ratio is presently 70.80%.

Analysts Set New Price Targets

Several brokerages have weighed in on KHC. Mizuho downgraded Kraft Heinz from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $38.00 to $31.00 in a research report on Monday, February 10th. Piper Sandler dropped their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. UBS Group reduced their price target on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus lowered their price objective on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Finally, Wells Fargo & Company cut their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.86.

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.