Artemis Investment Management LLP increased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 106.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,151,726 shares of the company’s stock after purchasing an additional 593,422 shares during the period. Artemis Investment Management LLP’s holdings in The Kraft Heinz were worth $46,033,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. DAVENPORT & Co LLC grew its stake in shares of The Kraft Heinz by 3.8% during the 1st quarter. DAVENPORT & Co LLC now owns 80,793 shares of the company’s stock valued at $3,232,000 after buying an additional 2,992 shares during the period. Comerica Bank raised its holdings in shares of The Kraft Heinz by 7.8% in the 1st quarter. Comerica Bank now owns 171,684 shares of the company’s stock worth $6,938,000 after purchasing an additional 12,432 shares during the period. Goodman Financial Corp purchased a new stake in shares of The Kraft Heinz during the 1st quarter worth about $8,519,000. Parsons Capital Management Inc. RI raised its holdings in The Kraft Heinz by 329.4% in the first quarter. Parsons Capital Management Inc. RI now owns 27,689 shares of the company’s stock valued at $1,108,000 after buying an additional 21,240 shares during the period. Finally, Telos Capital Management Inc. acquired a new position in The Kraft Heinz during the first quarter valued at approximately $2,385,000. Hedge funds and other institutional investors own 58.93% of the company’s stock.
NASDAQ KHC opened at $41.99 on Tuesday. The stock’s 50 day simple moving average is $40.17 and its 200 day simple moving average is $35.41. The firm has a market cap of $51.36 billion, a PE ratio of -104.97, a price-to-earnings-growth ratio of 2.51 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.31 and a quick ratio of 0.96. The Kraft Heinz Company has a one year low of $28.12 and a one year high of $42.30.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Stockholders of record on Friday, May 28th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Thursday, May 27th. The Kraft Heinz’s dividend payout ratio is 56.14%.
KHC has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on The Kraft Heinz from $41.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, April 27th. Jefferies Financial Group boosted their target price on shares of The Kraft Heinz from $32.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, January 12th. Stifel Nicolaus lifted their price target on shares of The Kraft Heinz from $33.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, February 12th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $41.00 target price on shares of The Kraft Heinz in a research report on Sunday, March 14th. Finally, Credit Suisse Group upped their target price on The Kraft Heinz from $32.00 to $35.00 and gave the company an “underperform” rating in a research report on Monday, March 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.00.
The Kraft Heinz Company Profile
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy, meals, meats and seafood, frozen and chilled foods, packaged drinking pouches, appetizers, nuts and salted snacks, refreshment beverages, coffee, infant and nutrition products, and other grocery products, as well as desserts, dressings, toppings, and baking.
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