Lorne Steinberg Wealth Management Inc. Has $3.31 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Lorne Steinberg Wealth Management Inc. trimmed its position in The Kraft Heinz Company (NASDAQ:KHC) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,630 shares of the company’s stock after selling 685 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Kraft Heinz were worth $3,305,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KHC. Winch Advisory Services LLC raised its holdings in Kraft Heinz by 20.1% during the 4th quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock worth $70,000 after buying an additional 380 shares during the period. Pinnacle Financial Partners Inc raised its holdings in Kraft Heinz by 4.2% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 9,560 shares of the company’s stock worth $336,000 after buying an additional 381 shares during the period. Smith Thornton Advisors LLC raised its holdings in Kraft Heinz by 2.1% during the 3rd quarter. Smith Thornton Advisors LLC now owns 20,718 shares of the company’s stock worth $727,000 after buying an additional 435 shares during the period. Cohen Investment Advisors LLC raised its holdings in Kraft Heinz by 5.0% during the 4th quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company’s stock worth $315,000 after buying an additional 487 shares during the period. Finally, Keynote Financial Services LLC raised its holdings in Kraft Heinz by 2.0% during the 3rd quarter. Keynote Financial Services LLC now owns 25,965 shares of the company’s stock worth $912,000 after buying an additional 512 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

NASDAQ:KHC opened at $29.32 on Wednesday. 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 firm has a fifty day simple moving average of $29.80 and a 200 day simple moving average of $32.62. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96. The stock has a market capitalization of $35.04 billion, a PE ratio of 12.97, a P/E/G ratio of 3.25 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. On average, research analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 dividend on an annualized basis and a yield of 5.46%. Kraft Heinz’s dividend payout ratio (DPR) is 70.80%.

Wall Street Analyst Weigh In

KHC has been the topic of several research analyst reports. Piper Sandler dropped their target price 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. JPMorgan Chase & Co. lowered their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus lowered their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Evercore ISI reiterated an “in-line” rating and issued a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Kraft Heinz from a “hold” rating to a “sell” rating in a report on Friday, February 14th. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.