The Kraft Heinz Company (NASDAQ:KHC) Position Lessened by Capital Research Global Investors

Capital Research Global Investors lowered its position in The Kraft Heinz Company (NASDAQ:KHCFree Report) by 95.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,000 shares of the company’s stock after selling 5,744,000 shares during the quarter. Capital Research Global Investors’ holdings in Kraft Heinz were worth $9,467,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Belpointe Asset Management LLC acquired a new position in Kraft Heinz during the 4th quarter valued at $252,000. Hudson Edge Investment Partners Inc. increased its holdings in shares of Kraft Heinz by 11.2% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 159,646 shares of the company’s stock worth $5,904,000 after purchasing an additional 16,065 shares during the period. Rafferty Asset Management LLC raised its position in shares of Kraft Heinz by 14.8% during the fourth quarter. Rafferty Asset Management LLC now owns 357,553 shares of the company’s stock valued at $13,222,000 after buying an additional 46,024 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Kraft Heinz by 1.0% in the fourth quarter. CIBC Asset Management Inc now owns 292,763 shares of the company’s stock valued at $10,826,000 after buying an additional 2,799 shares during the period. Finally, NEOS Investment Management LLC grew its position in Kraft Heinz by 2.4% during the fourth quarter. NEOS Investment Management LLC now owns 51,657 shares of the company’s stock worth $1,910,000 after buying an additional 1,229 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kraft Heinz

In related news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the completion of the transaction, the insider now owns 158,266 shares in the company, valued at $5,689,662.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

KHC has been the subject of several research reports. Wells Fargo & Company reduced their target price on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. Piper Sandler upgraded shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 target price on the stock in a research report on Wednesday, May 22nd. Bank of America upped their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Kraft Heinz presently has an average rating of “Moderate Buy” and an average price target of $40.08.

View Our Latest Analysis on KHC

Kraft Heinz Stock Down 0.5 %

Shares of KHC stock opened at $34.39 on Friday. The company has a market capitalization of $41.76 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 2.77 and a beta of 0.57. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96. The firm has a fifty day moving average of $36.44 and a 200-day moving average of $36.30. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHCGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. As a group, equities research analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Kraft Heinz Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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