DNB Asset Management AS Increases Stock Holdings in Kraft Heinz Company $KHC

Key Points

• DNB Asset Management AS increased its stake in Kraft Heinz by 9.3% in the fourth quarter, adding 52,629 shares and bringing its total holding to 620,195 shares worth about $15.0 million.
• Analysts remain cautious on KHC, with several firms cutting price targets and MarketBeat showing a consensus rating of “Reduce” and an average target price of $23.06.
• Kraft Heinz reported mixed financial results and a sizable dividend: quarterly EPS and revenue both beat estimates, while the company also declared a $0.40 quarterly dividend that annualizes to a 7.0% yield.

DNB Asset Management AS lifted its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 620,195 shares of the company's stock after purchasing an additional 52,629 shares during the quarter. DNB Asset Management AS owned about 0.05% of Kraft Heinz worth $15,040,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of KHC. Key Capital Management INC purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at about $29,000. New England Capital Financial Advisors LLC grew its holdings in shares of Kraft Heinz by 70.2% in the fourth quarter. New England Capital Financial Advisors LLC now owns 1,239 shares of the company's stock valued at $30,000 after purchasing an additional 511 shares during the period. Rakuten Securities Inc. grew its holdings in shares of Kraft Heinz by 172.4% in the second quarter. Rakuten Securities Inc. now owns 1,245 shares of the company's stock valued at $32,000 after purchasing an additional 788 shares during the period. Anfield Capital Management LLC grew its holdings in shares of Kraft Heinz by 256.7% in the third quarter. Anfield Capital Management LLC now owns 1,270 shares of the company's stock valued at $33,000 after purchasing an additional 914 shares during the period. Finally, Sentry Investment Management LLC purchased a new stake in shares of Kraft Heinz in the third quarter valued at about $38,000. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on KHC shares. Wells Fargo & Company decreased their target price on shares of Kraft Heinz from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 12th. TD Cowen decreased their target price on shares of Kraft Heinz from $24.00 to $20.00 and set a "hold" rating on the stock in a research report on Wednesday, March 25th. Evercore decreased their target price on shares of Kraft Heinz from $25.00 to $22.00 in a research report on Thursday, February 12th. The Goldman Sachs Group set a $23.00 target price on shares of Kraft Heinz in a research report on Thursday, February 12th. Finally, Mizuho decreased their target price on shares of Kraft Heinz from $27.00 to $25.00 and set a "neutral" rating on the stock in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $23.06.

Insider Activity

In other news, insider Cory Onell sold 4,991 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $24.34, for a total transaction of $121,480.94. Following the sale, the insider owned 197,463 shares of the company's stock, valued at approximately $4,806,249.42. This represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company's stock.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $22.92 on Monday. The stock has a market capitalization of $27.18 billion, a P/E ratio of -4.72 and a beta of 0.06. Kraft Heinz Company has a 12 month low of $21.03 and a 12 month high of $29.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.20 and a quick ratio of 0.82. The firm's 50-day moving average is $22.65 and its two-hundred day moving average is $23.73.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $6.05 billion for the quarter, compared to analysts' expectations of $5.89 billion. Kraft Heinz had a negative net margin of 23.05% and a positive return on equity of 7.26%. The business's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. On average, sell-side analysts anticipate that Kraft Heinz Company will post 2.06 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, June 5th. Kraft Heinz's dividend payout ratio is currently -32.92%.

Kraft Heinz Company Profile

The Kraft Heinz Company NASDAQ: KHC is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.

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