Cornerstone Wealth Management LLC Makes New $354,000 Investment in The Kraft Heinz Company (NASDAQ:KHC)

Cornerstone Wealth Management LLC acquired a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 11,542 shares of the company’s stock, valued at approximately $354,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KHC. Hotchkis & Wiley Capital Management LLC acquired a new position in Kraft Heinz in the third quarter worth approximately $411,304,000. State Street Corp increased its stake in shares of Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Kraft Heinz by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Kraft Heinz by 1,139.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company’s stock worth $39,112,000 after buying an additional 1,170,814 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Up 0.8 %

KHC opened at $29.31 on Monday. The Kraft Heinz Company has a fifty-two week low of $28.37 and a fifty-two week high of $38.96. The company has a market capitalization of $35.44 billion, a P/E ratio of 26.41, a P/E/G ratio of 3.45 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The firm’s fifty day moving average price is $30.53 and its two-hundred day moving average price is $33.12.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share. On average, analysts anticipate that The Kraft Heinz Company will post 3 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date was Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is 144.14%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. The Goldman Sachs Group lowered their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. UBS Group decreased their price objective on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company dropped their target price on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, TD Cowen decreased their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $34.77.

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.