Truist Financial Corp increased its holdings in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 25.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 306,704 shares of the company's stock after buying an additional 61,651 shares during the quarter. Truist Financial Corp's holdings in Kraft Heinz were worth $11,342,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Invesco Ltd. boosted its position in Kraft Heinz by 10.7% in the 3rd quarter. Invesco Ltd. now owns 24,601,098 shares of the company's stock worth $827,581,000 after purchasing an additional 2,369,080 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Kraft Heinz by 86.0% during the 3rd quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company's stock valued at $155,671,000 after buying an additional 2,140,153 shares in the last quarter. LSV Asset Management lifted its position in shares of Kraft Heinz by 27.1% during the 3rd quarter. LSV Asset Management now owns 9,263,400 shares of the company's stock valued at $311,621,000 after buying an additional 1,977,571 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Kraft Heinz by 3,167.3% in the 3rd quarter. Nordea Investment Management AB now owns 1,869,778 shares of the company's stock valued at $63,198,000 after purchasing an additional 1,812,551 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Kraft Heinz by 7.2% in the 3rd quarter. Morgan Stanley now owns 12,580,726 shares of the company's stock valued at $423,216,000 after purchasing an additional 850,326 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on Kraft Heinz from $38.00 to $37.00 and set an "equal weight" rating on the stock in a report on Thursday, February 15th. Bank of America raised their price objective on Kraft Heinz from $40.00 to $42.00 and gave the company a "buy" rating in a report on Monday, April 15th. 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 report on Thursday, April 18th. Finally, Citigroup started coverage on Kraft Heinz in a research note on Thursday, February 1st. They issued a "buy" rating and a $43.00 target price for the company. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $40.57.
Read Our Latest Research Report on KHC
Kraft Heinz Trading Up 1.2 %
Shares of NASDAQ:KHC traded up $0.44 during midday trading on Thursday, reaching $36.72. 11,372,163 shares of the company's stock were exchanged, compared to its average volume of 8,157,192. The firm's 50 day simple moving average is $36.34 and its two-hundred day simple moving average is $35.75. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.99 and a quick ratio of 0.54. The stock has a market cap of $44.64 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 3.07 and a beta of 0.65. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $41.47.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The company's quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. As a group, sell-side analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.
Kraft Heinz Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz's dividend payout ratio is currently 69.26%.
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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