Royal Fund Management LLC Buys Shares of 32,278 The Kraft Heinz Company (NASDAQ:KHC)

Royal Fund Management LLC purchased a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 32,278 shares of the company’s stock, valued at approximately $1,194,000.

A number of other hedge funds also recently made changes to their positions in KHC. Invesco Ltd. raised its holdings in shares of Kraft Heinz by 10.7% during the third quarter. Invesco Ltd. now owns 24,601,098 shares of the company’s stock valued at $827,581,000 after buying an additional 2,369,080 shares during the last quarter. AQR Capital Management LLC raised its holdings in Kraft Heinz by 86.0% during the third quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock worth $155,671,000 after purchasing an additional 2,140,153 shares in the last quarter. LSV Asset Management raised its holdings in Kraft Heinz by 27.1% during the third quarter. LSV Asset Management now owns 9,263,400 shares of the company’s stock worth $311,621,000 after purchasing an additional 1,977,571 shares in the last quarter. Nordea Investment Management AB raised its holdings in Kraft Heinz by 3,167.3% during the third quarter. Nordea Investment Management AB now owns 1,869,778 shares of the company’s stock worth $63,198,000 after purchasing an additional 1,812,551 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Kraft Heinz by 7.2% during the third quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock worth $423,216,000 after purchasing an additional 850,326 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on KHC. Bank of America boosted their target price on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Citigroup assumed coverage on Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their price target on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Wells Fargo & Company dropped their price target on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $40.00.

Kraft Heinz Trading Down 1.0 %

NASDAQ KHC traded down $0.37 on Friday, hitting $36.35. 7,102,855 shares of the stock were exchanged, compared to its average volume of 7,314,267. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $41.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.54. The company has a market capitalization of $44.14 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 2.92 and a beta of 0.65. The company’s 50-day moving average price is $36.35 and its two-hundred day moving average price is $35.75.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same period in the previous year, the company posted $0.68 EPS. Kraft Heinz’s revenue was down 1.2% on a year-over-year basis. Research analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

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.