Spears Abacus Advisors LLC Boosts Stake in Kraft Heinz Co (NASDAQ:KHC)

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Spears Abacus Advisors LLC grew its holdings in Kraft Heinz Co (NASDAQ:KHC) by 11.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,312 shares of the company’s stock after purchasing an additional 670 shares during the period. Spears Abacus Advisors LLC’s holdings in Kraft Heinz were worth $206,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Clifford Swan Investment Counsel LLC grew its stake in Kraft Heinz by 0.7% during the fourth quarter. Clifford Swan Investment Counsel LLC now owns 33,710 shares of the company’s stock valued at $1,451,000 after acquiring an additional 225 shares in the last quarter. Delta Asset Management LLC TN grew its stake in Kraft Heinz by 3.5% during the fourth quarter. Delta Asset Management LLC TN now owns 7,466 shares of the company’s stock valued at $320,000 after acquiring an additional 250 shares in the last quarter. IHT Wealth Management LLC grew its stake in Kraft Heinz by 4.4% during the fourth quarter. IHT Wealth Management LLC now owns 6,081 shares of the company’s stock valued at $262,000 after acquiring an additional 259 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in Kraft Heinz by 6.2% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 5,183 shares of the company’s stock valued at $223,000 after acquiring an additional 301 shares in the last quarter. Finally, ETF Managers Group LLC grew its stake in Kraft Heinz by 18.3% during the fourth quarter. ETF Managers Group LLC now owns 2,138 shares of the company’s stock valued at $92,000 after acquiring an additional 330 shares in the last quarter. 58.23% of the stock is currently owned by institutional investors.

KHC stock traded down $0.21 during midday trading on Wednesday, reaching $30.03. The company had a trading volume of 597,830 shares, compared to its average volume of 10,878,202. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.22 and a quick ratio of 0.86. Kraft Heinz Co has a 1 year low of $26.96 and a 1 year high of $64.99. The stock has a market cap of $36.85 billion, a PE ratio of 8.51, a P/E/G ratio of 2.78 and a beta of 0.70.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 5.33%. Kraft Heinz’s dividend payout ratio is presently 45.33%.

Several equities analysts recently commented on KHC shares. BidaskClub cut shares of Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut shares of Kraft Heinz from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $52.00 to $37.00 in a research note on Friday, February 22nd. Argus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and set a $34.35 price objective for the company. in a research note on Tuesday, February 26th. UBS Group cut shares of Kraft Heinz from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $55.00 to $39.00 in a research note on Friday, February 22nd. Finally, Morgan Stanley raised shares of Kraft Heinz from an “underweight” rating to an “equal weight” rating and set a $35.00 price objective for the company in a research note on Monday, March 4th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. Kraft Heinz has an average rating of “Hold” and a consensus target price of $41.22.

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Kraft Heinz Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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