Norden Group LLC Purchases 2,877 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Norden Group LLC grew its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 27.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,214 shares of the company’s stock after buying an additional 2,877 shares during the period. Norden Group LLC’s holdings in Kraft Heinz were worth $406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC bought a new stake in Kraft Heinz during the third quarter worth about $411,304,000. State Street Corp lifted its holdings in shares of Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after purchasing an additional 1,944,019 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after purchasing an additional 1,238,200 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Kraft Heinz by 1,139.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company’s stock worth $39,112,000 after buying an additional 1,170,814 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Performance

Shares of KHC opened at $30.98 on Wednesday. The firm has a market capitalization of $37.02 billion, a P/E ratio of 13.71, a PEG ratio of 3.39 and a beta of 0.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $38.96. The business has a fifty day moving average of $29.80 and a 200 day moving average of $32.35.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating the consensus estimate 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 anticipate that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.16%. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

Analyst Ratings Changes

Several research firms have commented on KHC. TD Cowen dropped their target price on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Barclays dropped their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Evercore ISI reaffirmed an “in-line” rating and issued a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Piper Sandler cut their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, UBS Group reduced their price target on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and an average target price of $30.86.

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.