Cardinal Point Capital Management ULC Takes Position in Kraft Heinz Company $KHC

Cardinal Point Capital Management ULC acquired a new stake in Kraft Heinz Company (NASDAQ:KHC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 8,425 shares of the company’s stock, valued at approximately $218,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Rossby Financial LCC acquired a new position in shares of Kraft Heinz during the 1st quarter worth $29,000. Wayfinding Financial LLC bought a new stake in Kraft Heinz in the 1st quarter valued at $33,000. Investment Management Corp VA ADV boosted its holdings in Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock valued at $35,000 after purchasing an additional 669 shares during the period. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Kraft Heinz in the 2nd quarter valued at $39,000. Finally, Banque Transatlantique SA acquired a new position in shares of Kraft Heinz in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of recent analyst reports. Stifel Nicolaus dropped their target price on shares of Kraft Heinz from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, September 3rd. Wells Fargo & Company reduced their target price on shares of Kraft Heinz from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Kraft Heinz from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d)” rating on shares of Kraft Heinz in a research note on Wednesday, October 8th. Finally, Barclays cut their price target on shares of Kraft Heinz from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz has a consensus rating of “Reduce” and a consensus price target of $28.65.

Kraft Heinz Price Performance

NASDAQ KHC opened at $25.25 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. Kraft Heinz Company has a 12-month low of $24.80 and a 12-month high of $35.17. The company has a market capitalization of $29.89 billion, a PE ratio of -5.62, a price-to-earnings-growth ratio of 2.98 and a beta of 0.16. The firm’s 50 day moving average is $26.33 and its 200-day moving average is $27.13.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The company had revenue of $6.39 billion for the quarter. Equities research analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 29th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Friday, August 29th. Kraft Heinz’s payout ratio is presently -35.63%.

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.