Onyx Bridge Wealth Group LLC Boosts Position in The Kraft Heinz Company (NASDAQ:KHC)

Onyx Bridge Wealth Group LLC boosted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.3% during the fourth quarter, Holdings Channel reports. The firm owned 26,532 shares of the company’s stock after buying an additional 848 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Kraft Heinz were worth $981,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of KHC. OFI Invest Asset Management purchased a new stake in Kraft Heinz during the third quarter worth $26,000. Ancora Advisors LLC boosted its position in Kraft Heinz by 69.9% during the first quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock worth $26,000 after purchasing an additional 272 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Kraft Heinz in the third quarter valued at $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter valued at $32,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter valued at $33,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on KHC. Wells Fargo & Company decreased their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup began coverage on Kraft Heinz in a research note on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Bank of America increased their price objective on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.57.

Kraft Heinz Trading Up 1.8 %

Shares of Kraft Heinz stock traded up $0.67 during trading hours on Friday, reaching $37.78. The stock had a trading volume of 9,117,591 shares, compared to its average volume of 8,138,727. The firm has a 50 day simple moving average of $35.91 and a two-hundred day simple moving average of $35.37. The firm has a market capitalization of $45.93 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.92 and a beta of 0.67. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $41.47.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.99 billion. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. As a group, equities research analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a $0.40 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.24%. Kraft Heinz’s dividend payout ratio (DPR) is 69.26%.

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.