Gabelli Funds LLC Grows Position in The Kraft Heinz Company (NASDAQ:KHC)

Gabelli Funds LLC grew its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 805,700 shares of the company’s stock after acquiring an additional 25,500 shares during the quarter. Gabelli Funds LLC owned about 0.07% of Kraft Heinz worth $29,795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of KHC. Steward Partners Investment Solutions LLC purchased a new position in Kraft Heinz in the 4th quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Kraft Heinz in the fourth quarter valued at about $32,000. BKM Wealth Management LLC acquired a new stake in Kraft Heinz during the 4th quarter valued at approximately $33,000. Headinvest LLC acquired a new stake in Kraft Heinz in the third quarter valued at $38,000. Finally, VisionPoint Advisory Group LLC raised its stake in shares of Kraft Heinz by 326.1% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,223 shares of the company’s stock valued at $41,000 after purchasing an additional 936 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

Shares of NASDAQ KHC traded down $0.96 during midday trading on Wednesday, reaching $34.67. The company’s stock had a trading volume of 9,802,955 shares, compared to its average volume of 7,942,639. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The company has a market cap of $42.10 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 2.81 and a beta of 0.57. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The company has a 50 day moving average price of $36.54 and a 200 day moving average price of $36.32.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period in the previous year, the firm earned $0.68 earnings per share. Kraft Heinz’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities research analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio is 69.87%.

Insiders Place Their Bets

In related news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now directly owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Piper Sandler upgraded Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price target on the stock in a research report on Wednesday, May 22nd. Finally, Bank of America boosted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.08.

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.