Cullinan Associates Inc. Buys 2,134 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Cullinan Associates Inc. increased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHCFree Report) by 19.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,881 shares of the company’s stock after acquiring an additional 2,134 shares during the quarter. Cullinan Associates Inc.’s holdings in Kraft Heinz were worth $475,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Kraft Heinz by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock valued at $2,603,349,000 after buying an additional 183,234 shares in the last quarter. Morgan Stanley lifted its position in shares of Kraft Heinz by 7.2% during the 3rd quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock worth $423,216,000 after buying an additional 850,326 shares during the last quarter. Legal & General Group Plc raised its position in Kraft Heinz by 1.2% in the third quarter. Legal & General Group Plc now owns 6,970,103 shares of the company’s stock valued at $234,474,000 after purchasing an additional 85,295 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Kraft Heinz by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,577,285 shares of the company’s stock valued at $169,268,000 after buying an additional 137,169 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Kraft Heinz by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock valued at $113,960,000 after buying an additional 474,758 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on KHC. Deutsche Bank Aktiengesellschaft raised their price objective on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Piper Sandler dropped their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Bank of America boosted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company decreased their target price on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 27th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.75.

Check Out Our Latest Analysis on KHC

Insider Activity at Kraft Heinz

In related news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $35.95, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by insiders.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $32.00 on Wednesday. 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 business’s fifty day simple moving average is $35.06 and its 200-day simple moving average is $35.99. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96. The company has a market cap of $38.86 billion, a PE ratio of 13.97, a PEG ratio of 2.60 and a beta of 0.53.

Kraft Heinz (NASDAQ:KHCGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 EPS. Analysts expect 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 was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.00%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Kraft Heinz 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.

See Also

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

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