Fifth Third Bancorp Has $900,000 Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Fifth Third Bancorp increased its position in The Kraft Heinz Company (NASDAQ:KHC) by 10.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,567 shares of the company’s stock after purchasing an additional 2,879 shares during the quarter. Fifth Third Bancorp’s holdings in Kraft Heinz were worth $900,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Kraft Heinz by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock valued at $2,779,524,000 after purchasing an additional 14,996,486 shares during the last quarter. Norges Bank acquired a new position in shares of Kraft Heinz during the 4th quarter worth about $324,857,000. Southeastern Asset Management Inc. TN bought a new stake in shares of Kraft Heinz in the 4th quarter valued at about $87,080,000. Fairfax Financial Holdings Ltd. Can raised its position in shares of Kraft Heinz by 341.9% in the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company’s stock valued at $101,773,000 after acquiring an additional 2,564,000 shares during the period. Finally, Criteria Caixa S.A.U. bought a new position in Kraft Heinz during the 4th quarter worth approximately $73,316,000. 78.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on KHC shares. Cfra Research lowered shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 16th. DZ Bank downgraded Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research note on Friday, May 9th. Morgan Stanley initiated coverage on Kraft Heinz in a report on Monday, March 24th. They issued an “underweight” rating and a $29.00 price target for the company. The Goldman Sachs Group cut their price objective on Kraft Heinz from $27.00 to $25.00 and set a “sell” rating on the stock in a report on Monday, June 9th. Finally, Stifel Nicolaus decreased their price objective on Kraft Heinz from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to data from MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $30.35.

Kraft Heinz Stock Down 1.1%

Kraft Heinz stock opened at $25.79 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 1-year low of $25.53 and a 1-year high of $36.53. The company has a fifty day simple moving average of $27.93 and a 200 day simple moving average of $29.35. The company has a market cap of $30.52 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 3.39 and a beta of 0.27.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter last year, the company earned $0.69 EPS. Kraft Heinz’s revenue for the quarter was down 6.4% compared to the same quarter last year. Research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s dividend payout ratio (DPR) is 73.06%.

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.