Thrivent Financial for Lutherans Buys 2,527 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Thrivent Financial for Lutherans grew its stake in The Kraft Heinz Company (NASDAQ:KHC) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,155 shares of the company’s stock after purchasing an additional 2,527 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Kraft Heinz were worth $1,708,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of KHC. Larson Financial Group LLC increased its stake in Kraft Heinz by 191.0% in the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after buying an additional 636 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Kraft Heinz by 9.4% during the third quarter. The Manufacturers Life Insurance Company now owns 544,638 shares of the company’s stock valued at $19,122,000 after acquiring an additional 46,740 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in Kraft Heinz by 3.1% during the third quarter. Glenmede Trust Co. NA now owns 257,102 shares of the company’s stock worth $9,027,000 after acquiring an additional 7,761 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Kraft Heinz by 106.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 229,844 shares of the company’s stock worth $8,070,000 after purchasing an additional 118,364 shares during the last quarter. Finally, CreativeOne Wealth LLC bought a new position in Kraft Heinz in the 3rd quarter valued at $231,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and cut their price target for the stock from $34.00 to $28.00 in a report on Thursday, February 13th. Morgan Stanley began coverage on shares of Kraft Heinz in a research note on Monday, March 24th. They issued an “underweight” rating and a $29.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. The Goldman Sachs Group dropped their price objective 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, StockNews.com raised Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Three analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.73.

Kraft Heinz Stock Performance

Shares of KHC opened at $30.24 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 stock has a market capitalization of $36.14 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $38.96. The stock’s 50-day simple moving average is $29.99 and its 200 day simple moving average is $31.71.

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

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.29%. Kraft Heinz’s payout ratio is currently 70.80%.

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.