Sumitomo Mitsui Trust Group Inc. Buys 15,495 Shares of Kraft Heinz Company (NASDAQ:KHC)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 0.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,703,744 shares of the company's stock after buying an additional 15,495 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Kraft Heinz worth $82,275,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in KHC. Generali Investments Management Co LLC acquired a new stake in Kraft Heinz during the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. bought a new position in Kraft Heinz during the 4th quarter valued at $29,000. OFI Invest Asset Management purchased a new position in Kraft Heinz during the 4th quarter worth $36,000. Pinney & Scofield Inc. purchased a new position in shares of Kraft Heinz in the 4th quarter worth approximately $38,000. Finally, Abound Wealth Management grew its holdings in shares of Kraft Heinz by 1,157.0% in the first quarter. Abound Wealth Management now owns 1,257 shares of the company's stock valued at $38,000 after acquiring an additional 1,157 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup reiterated a "sell" rating and issued a $27.00 price objective (down previously from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Mizuho set a $29.00 price objective on Kraft Heinz and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Morgan Stanley initiated coverage on Kraft Heinz in a research note on Monday, March 24th. They issued an "underweight" rating and a $29.00 price objective on the stock. Sanford C. Bernstein lowered shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group upgraded shares of Kraft Heinz from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $25.00 to $27.00 in a research note on Wednesday, June 25th. Three research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $30.47.

Kraft Heinz Stock Down 1.6%

KHC traded down $0.43 on Friday, hitting $26.63. The company had a trading volume of 9,176,852 shares, compared to its average volume of 10,060,928. Kraft Heinz Company has a 52-week low of $25.44 and a 52-week high of $36.53. The firm has a market capitalization of $31.52 billion, a P/E ratio of 12.16, a P/E/G ratio of 3.12 and a beta of 0.25. The stock has a fifty day simple moving average of $27.03 and a 200-day simple moving average of $28.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.81.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. The business had revenue of $6 billion during the quarter, compared to analysts' expectations of $6.02 billion. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The firm's quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. As a group, equities analysts expect that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 6.01%. Kraft Heinz's dividend payout ratio (DPR) is 73.06%.

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.