Northeast Financial Consultants Inc Buys New Stake in Kraft Heinz Co (NASDAQ:KHC)

Northeast Financial Consultants Inc bought a new position in shares of Kraft Heinz Co (NASDAQ:KHC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,606 shares of the company’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Freestone Capital Holdings LLC acquired a new position in Kraft Heinz in the first quarter valued at approximately $9,811,000. Executive Wealth Management LLC acquired a new position in Kraft Heinz in the fourth quarter valued at approximately $40,000. Acima Private Wealth LLC acquired a new position in Kraft Heinz in the fourth quarter valued at approximately $41,000. Creative Financial Designs Inc. ADV boosted its stake in Kraft Heinz by 65.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 1,046 shares of the company’s stock valued at $34,000 after acquiring an additional 412 shares during the period. Finally, G&S Capital LLC acquired a new position in Kraft Heinz in the first quarter valued at approximately $36,000. 58.23% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ KHC traded down $0.29 on Friday, hitting $30.12. 223,158 shares of the stock were exchanged, compared to its average volume of 11,223,270. Kraft Heinz Co has a 52-week low of $26.96 and a 52-week high of $64.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 1.22. The stock has a market cap of $36.89 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 2.91 and a beta of 0.69.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend is Thursday, May 30th. Kraft Heinz’s payout ratio is 45.33%.

A number of equities research analysts have recently weighed in on KHC shares. Piper Jaffray Companies raised Kraft Heinz from an “underweight” rating to a “neutral” rating and set a $31.00 price target on the stock in a report on Friday, May 31st. Evercore ISI started coverage on Kraft Heinz in a report on Tuesday. They set an “in-line” rating and a $32.00 target price on the stock. Credit Suisse Group reissued an “underperform” rating and set a $26.00 target price (down previously from $33.00) on shares of Kraft Heinz in a report on Thursday, May 30th. Barclays cut Kraft Heinz from an “overweight” rating to an “equal weight” rating in a report on Friday, February 22nd. Finally, Wolfe Research cut Kraft Heinz from a “peer perform” rating to an “underperform” rating and set a $27.00 target price on the stock. in a report on Friday, March 29th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $41.22.

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About Kraft Heinz

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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