Corebridge Financial Inc. decreased its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 407,281 shares of the company's stock after selling 10,126 shares during the period. Corebridge Financial Inc.'s holdings in Kraft Heinz were worth $12,508,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Kraft Heinz by 19.9% during the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock valued at $2,779,524,000 after purchasing an additional 14,996,486 shares during the last quarter. State Street Corp lifted its position in Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company's stock worth $1,558,898,000 after acquiring an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company's stock valued at $669,821,000 after acquiring an additional 1,944,019 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in Kraft Heinz in the 3rd quarter valued at approximately $411,304,000. Finally, Nordea Investment Management AB raised its stake in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company's stock valued at $269,906,000 after buying an additional 1,238,200 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on KHC. Piper Sandler cut their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Barclays cut their price objective on shares of Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Stifel Nicolaus lowered their price target on Kraft Heinz from $32.00 to $31.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. The Goldman Sachs Group lowered their price objective on shares of Kraft Heinz from $32.00 to $28.00 and set a "sell" rating for the company in a research report on Thursday, February 13th. Finally, Morgan Stanley began coverage on shares of Kraft Heinz in a report on Monday, March 24th. They set an "underweight" rating and a $29.00 target price on the stock. Three investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. Based on data from MarketBeat, Kraft Heinz currently has an average rating of "Hold" and a consensus target price of $30.73.
Check Out Our Latest Analysis on KHC
Kraft Heinz Stock Performance
Shares of Kraft Heinz stock traded up $0.17 during trading hours on Friday, reaching $30.24. The company had a trading volume of 8,252,439 shares, compared to its average volume of 8,783,454. The business has a fifty day simple moving average of $29.99 and a 200 day simple moving average of $31.69. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $38.96. The firm has a market cap of $36.14 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. On average, analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.
Kraft Heinz Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend was Friday, March 7th. Kraft Heinz's dividend payout ratio (DPR) is 70.80%.
Kraft Heinz Company Profile
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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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