The Kraft Heinz Company (NASDAQ:KHC) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHCFree Report) by 10.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,796 shares of the company’s stock after buying an additional 2,733 shares during the period. Park Avenue Securities LLC’s holdings in Kraft Heinz were worth $1,063,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Polianta Ltd acquired a new position in Kraft Heinz during the first quarter worth about $1,136,000. Czech National Bank increased its stake in Kraft Heinz by 0.5% in the 1st quarter. Czech National Bank now owns 140,277 shares of the company’s stock valued at $5,176,000 after purchasing an additional 643 shares in the last quarter. Welch Group LLC raised its holdings in Kraft Heinz by 1.9% during the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock worth $549,000 after purchasing an additional 272 shares during the last quarter. Alaska Permanent Fund Corp purchased a new stake in Kraft Heinz during the first quarter worth $628,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Kraft Heinz by 13.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock valued at $89,000 after purchasing an additional 282 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $32.80 on Wednesday. The stock has a fifty day moving average price of $35.49 and a 200 day moving average price of $36.12. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The firm has a market capitalization of $39.83 billion, a P/E ratio of 14.32, a PEG ratio of 2.66 and a beta of 0.57.

Kraft Heinz (NASDAQ:KHCGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period in the prior year, the firm posted $0.68 EPS. The company’s revenue was down 1.2% on a year-over-year basis. Equities research analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.88%. Kraft Heinz’s payout ratio is 69.87%.

Insider Buying and Selling

In other news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the completion of the sale, the insider now owns 158,266 shares in the company, valued at approximately $5,689,662.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Piper Sandler cut their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Finally, Bank of America upped their target price on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Check Out Our Latest Stock Report on Kraft Heinz

About Kraft Heinz

(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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