Allstate Corp Acquires Shares of 26,843 The Kraft Heinz Company (NASDAQ:KHC)

Allstate Corp bought a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 26,843 shares of the company’s stock, valued at approximately $824,000.

A number of other institutional investors have also modified their holdings of KHC. Maridea Wealth Management LLC acquired a new stake in Kraft Heinz in the fourth quarter valued at about $483,000. New Age Alpha Advisors LLC raised its stake in shares of Kraft Heinz by 7,796.5% during the 4th quarter. New Age Alpha Advisors LLC now owns 34,192 shares of the company’s stock worth $1,050,000 after buying an additional 33,759 shares in the last quarter. Norges Bank acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at approximately $324,857,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at approximately $2,709,000. Finally, Homestead Advisers Corp grew its holdings in Kraft Heinz by 4.0% during the fourth quarter. Homestead Advisers Corp now owns 899,800 shares of the company’s stock worth $27,633,000 after acquiring an additional 34,200 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of recent analyst reports. Jefferies Financial Group reduced their target price on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. StockNews.com raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. The Goldman Sachs Group decreased their price target on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a research note on Thursday, February 13th. Finally, Bank of America cut Kraft Heinz from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $36.00 to $30.00 in a report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.73.

Kraft Heinz Trading Up 0.6 %

Shares of KHC stock opened at $30.43 on Tuesday. The Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $38.96. The company has a market capitalization of $36.36 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 3.39 and a beta of 0.40. The firm has a 50-day moving average price of $30.01 and a 200 day moving average price of $31.65. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Research analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date was Friday, March 7th. Kraft Heinz’s dividend payout ratio is currently 70.80%.

Kraft Heinz Company 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.