Levin Capital Strategies L.P. Purchases 974 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Levin Capital Strategies L.P. lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 33,481 shares of the company’s stock after acquiring an additional 974 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Kraft Heinz were worth $1,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. New York Life Investment Management LLC grew its stake in shares of Kraft Heinz by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock worth $3,995,000 after acquiring an additional 361 shares during the period. Checchi Capital Advisers LLC grew its stake in shares of Kraft Heinz by 5.3% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock worth $223,000 after acquiring an additional 366 shares during the period. Winch Advisory Services LLC grew its stake in shares of Kraft Heinz by 20.1% during the 4th quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock worth $70,000 after acquiring an additional 380 shares during the period. Pinnacle Financial Partners Inc grew its stake in shares of Kraft Heinz by 4.2% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 9,560 shares of the company’s stock worth $336,000 after acquiring an additional 381 shares during the period. Finally, Smith Thornton Advisors LLC grew its stake in shares of Kraft Heinz by 2.1% during the 3rd quarter. Smith Thornton Advisors LLC now owns 20,718 shares of the company’s stock worth $727,000 after acquiring an additional 435 shares during the period. Institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the subject of several analyst reports. Bank of America downgraded Kraft Heinz from a “buy” rating to an “underperform” rating and cut their target price for the stock from $36.00 to $30.00 in a research note on Thursday, February 13th. Citigroup downgraded Kraft Heinz from a “buy” rating to a “neutral” rating and cut their target price for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. Mizuho downgraded Kraft Heinz from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $38.00 to $31.00 in a research note on Monday, February 10th. Piper Sandler cut their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group cut their target price on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a research note on Thursday, February 13th. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.86.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $30.72 on Friday. The stock has a market cap of $36.71 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 3.39 and a beta of 0.47. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96. The stock’s 50-day moving average is $29.77 and its 200 day moving average is $32.41.

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

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.21%. Kraft Heinz’s dividend payout ratio is 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.