126,803 Shares in The Kraft Heinz Company (NASDAQ:KHC) Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 126,803 shares of the company’s stock, valued at approximately $3,894,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New York Life Investment Management LLC raised its position in Kraft Heinz by 0.3% during the fourth 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 in the last quarter. Checchi Capital Advisers LLC raised its position in Kraft Heinz by 5.3% during the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock worth $223,000 after acquiring an additional 366 shares in the last quarter. Winch Advisory Services LLC raised its position in Kraft Heinz by 20.1% during the fourth quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock worth $70,000 after acquiring an additional 380 shares in the last quarter. Cohen Investment Advisors LLC raised its position in Kraft Heinz by 5.0% during the fourth quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company’s stock worth $315,000 after acquiring an additional 487 shares in the last quarter. Finally, LMG Wealth Partners LLC raised its position in Kraft Heinz by 1.4% during the fourth quarter. LMG Wealth Partners LLC now owns 37,040 shares of the company’s stock worth $1,137,000 after acquiring an additional 498 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. StockNews.com raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Piper Sandler dropped their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. The Goldman Sachs Group dropped their price objective on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Jefferies Financial Group dropped their price objective on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.86.

Kraft Heinz Price Performance

NASDAQ:KHC opened at $30.23 on Monday. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week high of $38.96. The firm has a market cap of $36.12 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 3.39 and a beta of 0.40. The firm’s 50-day simple moving average is $29.86 and its 200 day simple moving average is $32.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data 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%. As a group, sell-side analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.29%. Kraft Heinz’s payout ratio is 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.